North Shore-LIJ To Buy St. Vincent's Home Health for $17 Million
North Shore-LIJ Health System member North Shore University Hospital will buy the bankrupt Saint Vincent’s Catholic Medical Center Certified Home Health Agency for $17 million, the Great Neck, NY-based health system announced this week.
The deal, which awaits approval from a federal bankruptcy judge, provides an eight-county Certified Home Health Aides (CHHA) license for North Shore University Hospital, which includes the five boroughs of New York City, Nassau, Suffolk, and Westchester counties. North Shore-LIJ Home Care now is licensed for Long Island and Queens.
The purchase includes $17 million in cash and assumption of some CHHA obligations. North Shore University Hospital will retain CHHA workers who meet its hiring standards and will work with the unions to transition the work force.
“The ability to provide post acute services such as home care, in counties where we have hospitals is strategically important as we continue to bundle and integrate chronic disease across the continuum of care,” said Michael Dowling, president/CEO of North Shore-LIJ Health System. “Many patients do best in their home environment. With this new acquisition we’re expanding our ability to reach the number of patients who can receive clinical services in the comfort of their own homes.”