St. Vincent’s aside, big philanthropy keeps health care construction alive
From the June issue: The closure of St. Vincent’s Hospital in Greenwich Village dominated news about health care in recent weeks, as a beloved neighborhood institution succumbed to financial troubles. But other evidence suggests that, thanks to some major gifts to the health care industry, St. Vincent’s may be an isolated case. Several examples show that, despite the credit crunch, New York-area hospitals are finding ways to fund major expansion projects. Through the support of philanthropists, often from the real estate sector, there’s funding to build the latest state-of-the-art health care institutions, keeping New York a world leader in health care. [more]