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Rolling the real-estate dice; N.Y. hospital selling choice location post-bankruptcy.(St. Vincent Catholic Medical Centers)
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Modern Healthcare
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February 19, 2007
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Copyright informationCOPYRIGHT 2007 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Cinda Becker
St. Vincent Catholic Medical Centers in New York announced audacious plans last week to emerge from bankruptcy in late spring and then immediately begin work on a new state-of-the-art replacement hospital.
The bold move to rise from the ashes of its bankruptcy and leverage the proceeds from the sale of its prime real estate in Greenwich Village in order to start anew arrives as New York hospitals reel from the recommendations of the so-called Berger Commission, whose blueprint for overhauling the statewide hospital system became law on Jan. 1. The detailed plan called for the closure of nine hospitals and the substantial reconfiguration of another ...
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