St. Vincent's Moves To Sell Off 2 Nursing Homes

Law360, New York (August 6, 2010, 1:47 PM EDT) -- Bankrupt New York hospital system Saint Vincent's Catholic Medical Centers is seeking permission to auction off the assets of two nursing homes, with affiliates of private equity firm SV Investment Partners offering nearly $47 million in initial bids for the assets.

Saint Vincent's filed separate motions to approve sale procedures for its Bishop Francis J. Mugavero Center for Geriatric Care and Holy Family Home facilities in Brooklyn, N.Y. SV is acting as stalking-horse bidder in both auctions, offering $30.1 million for the Mugavero Center and $16.8...
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