St. Vincent's Hospital Deal Cleared - NBC New York

St. Vincent's Hospital Deal Cleared



    St. Vincent's Hospital Deal Cleared
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    NEW YORK - APRIL 07: Gary Wallace, a St. Vincent Hospital patient, protests against the imminent closing of the flagship Greenwich Village hospital on April 7, 2010 in New York City. On Tuesday the board of St. Vincent Catholic Medical Centers voted to close the hospital following its unsuccessful search to find a way out of its estimated $700 million of debt. The Westside hospital, which has served Manhattan for 160 years, may retain some of its services like an urgent care facility. (Photo by Spencer Platt/Getty Images) *** Local Caption *** Gary Wallace

    St. Vincent's Hospital is a step closer to selling its Westchester County-based behavioral health operations.

    A bankruptcy court approved a $38 million deal on Thursday that allows it to complete the sale with St. Joseph's Medical Center in Yonkers.

    The city's last Catholic-affiliated hospital filed for bankruptcy before closing in April, citing a debt topping $1 billion dollars.

    St. Vincent's chief restructuring officer Mark Toney says the hospital is happy it will be able to save programs that offer mental health and substance abuse treatment.

    St. Joseph's hospital says it hopes to have the transition completed by next month.

    A number of state agencies must still sign off on the deal.