Latest partner drops out of St. Vincent’s deal

April 01, 2010 06:19PM

Options are dwindling for St. Vincent’s Hospital, the financially-troubled medical center that’s been facing possible closure since January, with a recent negotiating partner leaving the table, according to Crain’s. Mount Sinai Medical Center had been in talks with St. Vincent’s to provide a financial injection, but the commitment proved beyond Mount Sinai’s scope, according to a statement from Mount Sinai officials. Mark Torey, the chief restructuring officer for St. Vincent’s, has indicated that the center would need upwards of $275 million to stay in business. Governor David Paterson said that he was disappointed by the news, and that he is concerned that “at this point, there does not appear to be a partner for the hospital.” City Council speaker Christine Quinn said that local officials will continue to search for an alternative to closure for St. Vincent’s.


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