Officials at Kingsbrook Jewish Medical Center, a major teaching hospital in Brooklyn, N.Y., are in negotiations with leaders at Interfaith Medical Center, also in Brooklyn, to possibly take over the bankrupt hospital, according to an Epoch Times report.
Interfaith filed for Chapter 11 bankruptcy last December, and the hospital has come close to shuttering its doors several times. Earlier this month, the state awarded Interfaith two installments of $3 million in emergency funds so it could stay open, according to the report. The hospital, which is losing about $1.5 million every month, could receive up to $16 million in supplemental funding.
However, the bankruptcy court could still decide to close Interfaith but keep its local clinics open. If the court decides Interfaith can remain open, Kingsbrook Jewish and Interfaith will continue to look at takeover options. A spokeswoman for Interfaith told the Epoch Times the two organizations have had "open and productive discussions," but she did not elaborate on how a potential takeover could shake out.
Interfaith's next bankruptcy court date is Nov. 4.
More Articles on Hospital Transactions:
Central Maine HealthCare Cites "Hostile" Review in Withdrawal of Parkview Bid
Claiborne Hospital to Affiliate With Covenant
LSU Closes Moss Regional, Gives Up Management of 3 Hospitals