St. Vincent Catholic Medical Centers, New York, signed a letter of intent to transfer its 269-bed St. Mary's Hospital in Brooklyn to Kingsbrook Healthcare System, Brooklyn. The deal, part of an extensive turnaround program at financially troubled seven-hospital St. Vincent, is meant to make sure medical services continue to be provided in the Bedford-Styvesant community of St. Mary's, officials said. Kingsbrook Healthcare is being created as the parent of 864-bed Kingsbrook Jewish Medical Center. The letter of intent guarantees a 90-day exclusivity period for Kingsbrook to complete due diligence. Once a definitive agreement is in place, it will take about nine months to close the deal, officials said. -- by Cinda Becker
N.Y. system to transfer hospital to new owner
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