New Rochelle's Sound Shore Medical Center to Be Acquired by Montefiore

Sound Shore Health System, which includes Sound Shore Medical Center in New Rochelle and Mount Vernon Hospital, has reached an agreement to be acquired by Montefiore Health System.

Sound Shore Health System entered into an asset purchase agreement for Montefiore to take over its assets.

John Spicer, president and CEO of Sound Shore, said the move was the right step to being able to continue providing high quality, accessible and affordable health care.

"Our mission is strong and our dedication to patient care is unchanged," he said. "We are fortunate to have Montefiore as a partner because of their clinical excellence, commitment to community and ability to provide the best care at Sound Shore and Mount Vernon hospitals over the long run."

According to information provided by Sound Shore, the sale of the hospitals will not impact day-to-day operations or patient care.

Sound Shore has filed voluntary petitions in bankruptcy court under Chapter 11 of the U.S. Bankruptcy Code. It has elected to sell its assets to Montefiore under Section 363 of the Bankruptcy Code.

Earlier in May, negotiations between Sound Shore and Westchester Medical Center ended without coming to an agreement, according to the Journal News.

In an interview with WVOX owner William O'Shaughnessy, a transcript of which Patch received, Spicer said that Montefiore is sensitive to the fact that the two hospitals are community-based institutions.

"And they know it is extraordinarily important for us [in order] to be successful that our relationships with the community have to stay," he said.

Spicer said that part of the deal would be some upgrades to both facilities, including commitments to re-do both emergency rooms and add a new patient care unit, as well as infrastructure improvements, such as new boilers and new roofs.