Long Island College Hospital in Brooklyn, N.Y., has announced it will likely close in March following an announcement from the state that grants to help finance a merger with SUNY Downstate Medical Center, also in Brooklyn, will be delayed, according to a New York Times report.
The $62 million in state grants, offered in a deal orchestrated by former New York Governor David Paterson through a program to improve efficiencies in the state's hospitals, has been delayed by Governor Andrew Cuomo's administration as "part of a broader effort to rethink the state's sprawling Medicaid program," according to the report.
Without the grants, the hospital, owned by Continuum Health Partners, is expected to run out of cash by mid-March, at which point it would begin bankruptcy proceedings and be forced to close the facility, according the report.
Read the New York Times report on Long Island College Hospital.
Read more coverage on Long Island College Hospital:
- Long Island College Hospital Approves Merger With SUNY Downstate
The $62 million in state grants, offered in a deal orchestrated by former New York Governor David Paterson through a program to improve efficiencies in the state's hospitals, has been delayed by Governor Andrew Cuomo's administration as "part of a broader effort to rethink the state's sprawling Medicaid program," according to the report.
Without the grants, the hospital, owned by Continuum Health Partners, is expected to run out of cash by mid-March, at which point it would begin bankruptcy proceedings and be forced to close the facility, according the report.
Read the New York Times report on Long Island College Hospital.
Read more coverage on Long Island College Hospital:
- Long Island College Hospital Approves Merger With SUNY Downstate