United Hospital files bankruptcy
Monday, December 27 2004
The future of health care in Port Chester remains up in the air as New York United Hospital closed its doors to new patients Christmas Eve.
Although the hospital announced it planned to work on developing a new health-care facility to replace the now bankrupt hospital, no details were forthcoming last week.
On Dec. 17, the 115-year-old hospital said it is seeking Chapter 11 protection. "It's unfortunate that the debt became unmanageable," hospital spokeswoman Cathy Callegari said.
By declaring bankruptcy, the hospital hopes to have an orderly, gradual shutdown instead of a sudden closing when its money runs out, she said. The hospital only has enough funds to operate until February, she said.
The hospital was scheduled to stop elective admissions and procedures Dec. 24. The actual shutdown requires approval from the state Health Department. The hospital would close 90 days after the approval and the attached nursing home after 120 days.
As of Sept. 30, the hospital had $39 million in assets and $78 million in liabilities, according to the bankruptcy filing. The largest creditor is the New York Presbyterian Healthcare System, the healthcare system the hospital belongs to. It owes the system $21 million for services rendered. The hospital also owes the state Dormitory Authority $10.6 million on a mortgage on the hospital buildings.

