Friday, September 19, 2014

NYU Langone Pulls out of LICH Deal



Long Island College Hospital is facing an uncertain future once again.


NYU Langone Medical Center has withdrawn from its deal to take over the cash-strapped facility.


NYU Langone agreed to take over emergency services and ambulatory care at LICH from the State University of New York.


But it pulled out after a Brooklyn judge agreed to expand a lawsuit filed by a nurses’ union against SUNY.


The lawsuit now includes Langone and developer Fortis Property, which planned to buy the hospital for $ 240 million.


In a statement, Langone said, “It is clear to us that we will be unable to conclude the transaction, and provide the highest quality medical and nursing care that is our standard, even with the best of intentions and the commitment of the full resources of our institution.”


SUNY also issued a statement saying, “This is an unfortunate and unnecessary situation. A highly complicated health care transaction that would have brought world class patient services and jobs to Brooklyn and was many months in the making unraveled. There are no winners.”





NEWS – NY1




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