Daily News: October 15, 2014

Deloitte CF Advises St. Francis Hospital §363 Sale

Deloitte Corporate Finance (DCF) acted as exclusive financial advisor to Poughkeepsie-based St. Francis Hospital in its §363 sale to Westchester Medical Center, an advanced medical care and referral hospital located in Valhalla, NY. The acquisition closed in May 2014.

St. Francis Hospital filed for Chapter 11 bankruptcy protection in December 2013, and DCF advised the hospital in connection with its subsequent bankruptcy sale process. The sale to Westchester Medical Center was approved by the U.S. bankruptcy court in February 2014.

“DCF’s efforts in providing us the necessary market insight and deal advice were critical to the completion of this transaction,” said Art Nizza, CEO of St Francis Hospital.

“It has been a pleasure to work with the management team at St. Francis on this transaction with Westchester Medical Center. We are delighted that St. Francis will remain open and look forward to seeing it continue to serve the community,” said Simon Gisby, managing director, Deloitte Corporate Finance.

Founded in 1914, St. Francis Hospital is a general medical and surgical hospital located in Poughkeepsie, NY.