Peninsula Hospital Center comes at a price

Nov.November 08, 2011 12:19 PM

Peninsula Hospital Center was rescued in September when companies controlled by Faye Zakheim, owner of for-profit agency Revival Home Health Care, provided $27 million to bail out the Far Rockaway hospital, which had been in financial trouble for some time. Salvation has come at a price however, Crain’s reported; Zakheim’s husband, Steven Zakheim, a controversial health services entrepreneur with a history of run-ins with the law, has been becoming more involved in the hospital’s operations.

Though Department of Health officials required him to sign an affidavit stating he would not have any involvement with Revival Home Health Care, he has been finding loopholes in the rules, Crain’s said, participating in the hiring of Peninsula’s new executive team.

“His game plan, which was related to me, is to use the hospital and get it successful and integrate his resources to create a larger group of health care entities,” said Ronald Gade, a hospital restructuring expert. “He spoke about the different businesses he was getting into and how they would be interrelated.”

Steven declined to comment on the rumors to Crain’s: “I don’t think I can help you,” he said. “You’ve got your facts wrong. I’m not going to help you ruin my life.” [Crain’s]

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