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Hospital purchase deal gets court OK

A U.S. Bankruptcy Court judge has approved Montefiore Health System’s acquisition of Sound Shore Heath System facilities in New Rochelle and Mount Vernon.

Following regulatory approval, the transaction is expected to close this fall, when Bronx-based Montefiore will begin providing services at Sound Shore Medical Center and Mount Vernon Hospital and at Schaffer Extended Care Center in New Rochelle.

Montefiore officials in a press release said the new owner supports the continued operation of the Hopfer School of Nursing at the Mount Vernon hospital.

Dr. Steven M. Safyer, president and CEO of Montefiore Health System Inc., said he is a former long-time resident of New Rochelle with “deep affection” for the community. “We are excited to be making this significant step into Westchester and to strengthen our partnerships with the community-based physicians to ensure residents of New Rochelle, Mount Vernon and the surrounding neighborhoods receive the exceptional care that they deserve,” he said.

Sound Shore Health System, which employs nearly 2,000 workers, will continue normal operations until the closing.

Sound Shore officials last month notified the state Labor Department of 1,983 layoffs planned from Oct. 23 to Nov. 5 at its New Rochelle and Mount Vernon facilities. The layoffs were a part of Sound Shore’s reorganization plan in its Chapter 11 bankruptcy proceeding.

John Spicer, Sound Shore Health System president and CEO, called the bankruptcy court’s approval Friday of the Montefiore deal “a significant milestone in the acquisition process as it paves the way for a stronger, more vibrant healthcare infrastructure in southern Westchester.”

“Our physicians and employees have been phenomenally supportive during this period,” Spicer said, “enabling us to stay true to our promise of providing patients with uninterrupted care and services.”

Montefiore officials pledged to work closely with doctors, nurses and staff at Sound Shore facilities and said Montefiore “is committed to preserving jobs and intends to hire substantially all eligible and qualified staff to provide health care services.”

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About The Author

John Golden
Westchester Bureau Chief

The Business Journal’s senior writer, John Golden directs news coverage of the county and Hudson Valley region as Westchester bureau chief. He was an award-winning upstate columnist and feature writer before joining the Business Journal in 2007. He is the author of “Northern Drift: Sketches on the New York Frontier,” a collection of his regional journalism.

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