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South Nassau Closer to Acquiring Long Beach Medical Center

A bankruptcy court has green-lighted Oceanside, N.Y.-based South Nassau Communities Hospital's move to acquire nearly all assets of Long Beach (N.Y.) Medical Center.

The court approved South Nassau's amended asset purchase agreement, which will transfer ownership of LBMC's land, buildings and equipment to South Nassau by June 30. A separate buyer will acquire the Komanoff Center for Geriatric and Rehabilitative Medicine.

Instead of reopening LBMC as a full-service acute-care hospital, South Nassau will redevelop the campus with different functionalities. It will create a family medicine urgent care center and, pending state approval, a freestanding emergency department.

LBMC filed for Chapter 11 bankruptcy this past February. During the filing, the hospital agreed to sell its assets to South Nassau. LBMC had been closed since it sustained heavy flooding damage from Hurricane Sandy in October 2012.

More Articles on Hospital Transactions:
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Port Huron Becomes 12th McLaren Hospital

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