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Gov. Paterson on Tuesday said St. Vincent's Hospital in Manhattan will get $6 million to meet its payroll.
St. Vincent's is approximately $700 million in debt. The hospital is losing about $5 million to $10 million a month, says the State's Health Department.
The loan from the state will come without any interest. Another $2 million has been loaned to the hospital by GE Capital, says NY1. Continuum Health Partners will most likely take over the facility and say they are planning on turning the hospital into a community health center.
Many residents and council members last week rallied against closing emergency care and other services. On Wednesday, Gov. Paterson will meet with hospital leaders.
