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Montefiore Finalizes Sound Shore Acquisition

Montefiore Health System, a New York City-based academic medical center, has completed its acquisition of the bankrupt Sound Shore Health System, based in New Rochelle, N.Y.

The two hospital campuses within Sound Shore — 252-bed Sound Shore Medical Center in New Rochelle and 196-bed Mount Vernon (N.Y.) Hospital — are now known as Montefiore New Rochelle and Montefiore Mount Vernon.

Officials said most jobs will be retained, hiring all eligible and qualified staff members from Sound Shore. Montefiore will also keep the system's school of nursing operational.

The New York State Department of Health approved Montefiore's $60 million acquisition of Sound Shore in October. In May, Sound Shore filed for Chapter 11 bankruptcy, but Montefiore stated its intent to purchase all assets of the troubled system the same day. Montefiore Health System is now comprised of six hospitals, totaling 2,059 beds.

"We plan to revitalize healthcare delivery in New Rochelle and Mount Vernon by keeping care local and bringing Montefiore's expertise as an integrated healthcare delivery system and academic medical center," said Steven Safyer, MD, president and CEO of Montefiore, in a news release. "We will build on each hospital's strengths and expand ambulatory care to improve the health of the community."

More Articles on Hospital Transactions:
Lafayette General Health, American Legion Hospital Consider Lease Agreement
UnityPoint-Proctor Merger Receives Illinois Approval
The Merger of Two Hospitals: 7 Key Issues

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