Lake Erie Regional Health System, based in Dunkirk, N.Y., has established a new independent board to operate Lake Shore Health Care Center, according to a Buffalo News report.
In mid-October, the board of directors at LERHS voted to close Lake Shore, a 220-bed hospital in Irving, N.Y., effective this upcoming January. However, officials are in the middle of a 90-day window to look for potential buyers of Lake Shore, and the organization said several parties are interested. A group led by Anthony Borrello, a local businessman, placed a bid to buy the hospital this week.
LERHS created the new, three-member board to make financial decisions with a new CEO and CFO, according to the report. However, the system board still has final say on any approval of a sale.
The Buffalo News previously reported the offer from Mr. Borrello's group was around $11 million, which LERHS deemed as insufficient.
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