Future gloomy for St. Vincent's Hospital

February 4, 2010 8:43:04 PM PST
Gov. David Paterson says he expects to keep St. Vincent's Hospital afloat for the next month through state loans and help from creditors. But the long-term prospects are still unclear for the major AIDS and trauma center that has served Greenwich Village for more than 160 years.

St. Vincent's is carrying $700 million in debt.

It's looking for a partner to prevent bankruptcy or closure. Continuum Health Partners has expressed interest, but rescinded its offer last week after its plan to shut St. Vincent's emergency room and inpatient units triggered opposition.

A Continuum spokesman said the company stepped back to allow a state task force and hospital officials to find the best solution. But Continuum says it's ready to resume negotiations anytime.