St. Joseph”™s Medical Center in Yonkers this month completed its $38 million purchase of St. Vincent”™s Hospital Westchester.
The sale includes St. Vincent”™s 138-bed hospital for psychiatric and addiction patients and 65-acre North Street campus in Harrison and its outpatient mental health and chemical dependency programs in the region.
St. Joseph”™s officials in August signed a purchase contract for the mental-health facility, which had been a valued asset of St. Vincent Catholic Medical Centers of New York. The parent company closed its flagship Greenwich Village hospital and filed for bankruptcy reorganization in April, its second Chapter 11 filing in five years. A U.S. Bankruptcy Court judge in October approved the Westchester sale.
St. Vincent”™s Westchester has about 930 employees. St. Joseph”™s employs about 1,225 workers at its 194-bed hospital and 200-bed nursing home in Yonkers.
“With this acquisition, St. Joseph”™s opens a new chapter in what has been a successful path focused on fiscal stability and growth,” said James J. Landy, chairman of St. Joseph”™s board of trustees. Landy is president and CEO of Hudson Valley Bank.?St. Joseph”™s Medical Center President and CEO Michael J. Spicer said the acquisition makes St. Joseph”™s one of the largest providers of mental health and chemical dependency services in the region.
Both nonprofit hospitals trace their origins to the community work of a Roman Catholic religious order, the Sisters of Charity. The order founded St. Vincent”™s Westchester in 1879 and opened St. Joseph”™s at its South Broadway location in 1888.