Updated 03/24/2010 10:43 PM
St. Vincent's To Sell Off Two Nursing Homes, Hospice
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St. Vincent's Medical Center announced plans Wednesday to sell two of its nursing homes and a hospice program.
The Chelsea institution is currently $700 million in debt.
The deal is the latest attempt to stabilize its finances.
The two nursing homes are Bishop Mugavero Center for Geriatric Care and the Holy Family Home, both of which are located in Brooklyn.
The hospital also signed off on a deal to sell the Pax Christi Hospice, which includes at-home services in all five boroughs, as well as 45 inpatient beds in the hospital.
The hospital has already laid off hundreds of workers and is working with a task force that includes Governor David Paterson and the State Department of Health in its restructuring efforts.