One of the hospitals, Sound Shore just filed bankruptcy and blames Medicare Cuts. Approval still needs to be given by the court and if so Montefiore would assume the Sound Shore buildings and other assets and operate the two hospitals.
Emergency rooms are to be remodeled as part of the deal. Other talks between Sound Shore and Westchester Medical Center broke down that had been going on for a few months. Founded in 1884, Montefiore is a teaching hospital for New York Medical College and the Albert Einstein College of Medicine. BD
Montefiore Medical Center, New York, is buying two more hospitals at fire-sale prices, just months after acquiring bankrupt New York Westchester Square Medical Center. Westchester, N.Y.-based Sound Shore Health System will file for Chapter 11 bankruptcy protection.
Montefiore announced it will purchase Sound Shore's buildings and other assets, assume certain liabilities and provide funding while Sound Shore is in bankruptcy proceedings. Montefiore plans to keep open and operate Sound Shore's two hospitals in Mount Vernon and New Rochelle, as well as its nursing home.