Visiting Nurse Service of New York to acquire 'Lombardi' Program from St. Vincent's Catholic Medical Center

$30 Million Purchase Brings VNSNY Long Term Home Health Care to Nassau County, Expands Service to City's Chronically Ill Medicaid Population by Over 30%

The Visiting Nurse Service of New York (VNSNY), the nation's largest not-for-profit home health care organization, announced today that it has successfully bid for, and is set to acquire, the Long Term Home Health Care ("Lombardi") Program from St. Vincent's Catholic Medical Center. The transaction was filed at a closed, one-time bid auction on August 10, 2010.  The purchase price of $30,150,000 is pending approval by the U.S. Bankruptcy Court and the Attorney General's Office.

VNSNY is currently licensed to provide long term home health care to 2,301 chronically ill New Yorkers.  As a result of the acquisition, it will be able to offer these services to an additional 1,065 patients in the Bronx, Manhattan, Brooklyn and Queens, and bring VNSNY long term home health care to Nassau County for the first time.  This is positive news for the quickly expanding population of aging New Yorkers, especially nursing home eligible seniors, who struggle with complex chronic conditions requiring medical supervision.

"As the ripple effect resulting from the closure of Saint Vincent's Catholic Medical Center and its many wonderful programs continues, VNSNY is committed to supporting each community with uninterrupted care and services," said Ilaina Edison, Senior Vice President, VNSNY.  "Through this acquisition, we can ensure that chronically ill, nursing home eligible New Yorkers, most  of them elderly, will have access to the expert long term care and services they deserve, so that they can live safely and independently in their own homes for as long as possible."

VNSNY will be meeting with professional and clerical staff from the St. Vincent's program and expects that most will be brought on immediately and seamlessly as VNSNY employees.

Both parties are working together with the New York State Department of Health to shape a smooth transition. A Certificate of Need will be filed by VNSNY on August 13, 2010, with completion of the process expected before the end of the year.