Montefiore Medical Center, New York, acquired bankrupt Our Lady of Mercy Medical Center, also in New York, for $38 million. The deal adds Our Lady of Mercys 345 beds and 2,500 employees to 1,002-bed Montefiore.
Pamela Adkins, a spokeswoman for Montefiore, said the hospital will invest $100 million in its new acquisition, operating now as the Montefiore Medical Center North Division, over the next five years. The two hospitals affiliated in 2006, but the financially struggling Our Lady of Mercy filed for bankruptcy in March 2007. -- by Melanie Evans