WHITE PLAINS, N.Y. -- The New York State Department of Health has approved Saint Agnes Hospital's proposed $38.5 million renovation and expansion. Plans call for modernizing the interior and exterior areas, upgrading equipment and installing a new information system. The project will be funded through tax-exempt bonds issued by Feb. 28.
PHILADELPHIA -- North Philadelphia Health System received a long-sought $24 million loan guarantee from the U.S. Department of Housing and Urban Development on Dec. 11. HUD's backing will help the two-hospital system issue new bonds to refinance $25 million of existing debt and access additional capital for investment in new programs, services and equipment. North Philadelphia Health System, located in a depressed section of north central Philadelphia, operates under a management contract with Philadelphia's Mercy Health System. System officials began working on a financial restructuring package back in 1995 (Nov. 6, 1995, p. 54).
BAYONNE, N.J. -- Atlantic Health System, Florham Park, N.J., expanded its hospital network to six on Dec. 11 with the addition of Bayonne Health Care System, parent of 299-bed Bayonne Hospital. As an affiliate member of Atlantic, Bayonne hopes to develop new and expanded services for the community. The deal is not a merger and involves no change in management or budgetary control. Each system will have a representative on the other system's board. Atlantic's 2,180-bed system includes Morristown (N.J.) Memorial Hospital; Overlook Hospital, Summit; Mountainside Hospital, Montclair; General Hospital Center at Passaic (N.J.); and affiliate Newton (N.J.) Memorial Hospital.
PHILADELPHIA -- A foundation endowed by HMO pioneer Leonard Abramson, founder of U.S. Healthcare, has committed $100 million to cancer research and treatment at University of Pennsylvania Health System in Philadelphia. The gift is the second largest ever made to the university and the largest ever to a National Cancer Institute-designated cancer center, the university said. The pledge will be used to fund cancer research, education and patient care through the creation of the Leonard and Madlyn Abramson Family Cancer Research Institute. Madlyn Abramson, a cancer survivor, was treated at University of Pennsylvania Cancer Center and will chair the institute's nine-member board.
STAMFORD, Conn. -- Stamford Health System and Bridgeport-based St. Vincent's Health Services Corp. expect to file a joint certificate-of-need application in January to replace and renovate facilities at Stamford's 147-bed St. Joseph Medical Center. The $95 million construction project would be completed in March 2001. The two systems jointly own St. Joseph.