So St. Vincent's isn't closing yet, but it is losing many of its major functions. Last week it closed its outpatient HIV and mental health clinics and with a $6 million injection from the state and other lenders—meant to hold the hospital over until the end of the month while it tries again to restructure its debt—the facility will lose two-thirds of its beds. To save St. Vincent's "shared sacrifices" will be necessary from all parties, said Governor Paterson. He and other officials are frustrated that unions aren't giving an inch—even faced with the hospital's $700 million debt and $5 million to $10 million monthly losses. Hospital officials told the Daily News the no-interest loan will give them "the time we need to put together a potential plan for the future of St. Vincent's."
St. Vincent's Gets Another Shot in the Arm
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"It puts more of a burden on New York — puts more of a burden on 49 other states."
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