St. Vincent's - Mt. Sinai Deal Falls Through
Friday, April 02, 2010
St. Vincent’s Medical Center of New York and Mount Sinai Medical Center are no longer in merger talks. A deal was all but killed yesterday when Mt. Sinai said it wouldn't acquire St. Vincent’s inpatient services.
"Now we have to go and try to attract other suitors for the facility," New York State Senator Tom Duane, who heads a task force to keep St. Vincent’s going, said.
The prospective partnership with Mt. Sinai is the second deal to fall through. In February, talks broke down with Continuum Health Partners, which owns Beth Israel and St. Luke’s-Roosevelt Hospital. Both times, the issues were the same: St. Vincent’s owes creditors some $700 million, and its operations don't support the large amount of charity care the hospital provides to low-income patients and the uninsured.