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St. Vincent Sells Off Hospital In $15M Deal

Law360 (July 25, 2006, 12:00 AM EDT) -- Less than a week after Saint Vincent Catholic Medical Centers of New York won approval to sell one of its shuttered hospitals, the embattled hospital system was given the green light Monday to auction off one of its Staten Island facilities.

Judge Adlai Hardin Jr. of the U.S. Bankruptcy Court for the Southern District of New York approved the sale of St. Vincent's Hospital in Staten Island to an affiliate of New Jersey-based Bayonne Medical Center for $15 million in cash.

Stalking-horse bidder Bayonne will assume...
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