All may not be lost yet for Greenwich Village's St. Vincent's hospital. According to Crain's, Mount Sinai hospital is in talks to buy St. Vincent's, and is currently performing due diligence to see whether they would want to take on the burden of dealing with St. Vincent's $700 million debt and the poor facilities. They have until April 30th to make a decision.
This may be the last ray of hope for the hospital, which was set to close even after getting a $6 million bail-out from the state. The NY Times reports that Dr. Kenneth L. Davis, president of Mount Sinai, attended a meeting of the St. Vincent's medical staff yesterday. He said a deal was not completed, but mentioned Mount Sinai would probably have to bring back the medical residency program and either renovate or sell off the buildings if one were to go through. Other officials also allegedly asked job-searching residents to delay moving to another hospital for a few weeks in case a deal is worked out.
St. Vincent's was almost taken over before by Continuum Health Partners, but local politicians called the plan "unacceptable" because of proposed scaling down of hospital facilities.
