North Shore University Hospital to Purchase St. Vincent's Home Health
$17 million acquisition provides license in five boroughs, Long Island and Westchester
Great Neck, NY (Vocus) August 13, 2010
North Shore University Hospital (NSUH), a member of the North Shore-LIJ Health System, has reached agreement to purchase assets of the Saint Vincent’s Catholic Medical Center Certified Home Health Agency (CHHA), subject to the approval of the United States Bankruptcy Court for the Southern District of New York. The transaction results in an eight-county CHHA license for North Shore University Hospital that includes the five boroughs of New York City, Nassau, Suffolk, and Westchester. Prior to the acquisition, North Shore-LIJ Home Care was licensed for Long Island and Queens.
The purchase includes $17 million in cash and assumption of certain obligations of the CHHA. The hospital will offer employment to those CHHA employees that meet its hiring standards and will work cooperatively 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 and chief executive officer for 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.”
Once approved by the bankruptcy court, the CHHA will become part of the North Shore-LIJ Health System’s Home Care Network, which provides over 800,000 home health visits annually and addresses short-term health issues such as recovery from surgery to longer-term chronic care management of conditions such as congestive heart failure, stroke, diabetes and other illnesses.
“When you look at providing service to a community – you look at how to best meet a need with quality care,” said Mark Solazzo, executive vice president and chief operating officer for North Shore-LIJ Health System. “We know that providing quality home health care is essential in our area. We believe this purchase makes sense for us and for the community from both a quality and access to care perspective.”
About North Shore-LIJ Health System
The nation's second-largest, non-profit, secular healthcare system, the North Shore-LIJ Health System cares for people of all ages throughout Long Island, Queens, Manhattan and Staten Island – a service area encompassing more than seven million people. The winner of the National Quality Forum’s 2010 National Quality Healthcare Award, the North Shore-LIJ Health System consists of 15 hospitals, 17 long-term care facilities, The Feinstein Institute for Medical Research, three trauma centers, five home health agencies, a hospice network and dozens of outpatient centers. In addition, North Shore-LIJ is partnering with Hofstra University to develop a new medical school, which will admit its first class in 2011. North Shore-LIJ’s owned facilities house about 5,600 beds, employ more than 10,000 nurses and have affiliations with more than 9,000 physicians. Its workforce of about 42,000 is the largest on Long Island and the ninth largest in New York City. For more information, go to http://www. northshorelij. com.
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