Buyer Backs Away from Summit Park Hospital Deal

The deal to sell Summit Park Hospital and Nursing Center to a private company has collapsed, Rockland County Executive Ed Day announced Wednesday.

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Day made a formal statement:

• Sympaticare, LLC chose to walk away from this transaction after publicly stating that it fully intended to continue providing quality health care services to our community. By pulling out of the deal in the eleventh hour, the prospective buyer confirms that it has failed the LDC, Summit Park patients, residents, medical staff and the people of Rockland County.
• We had hoped Sympaticare would play a role in stabilizing the financial future of Rockland County by acquiring Summit Park and investing millions of dollars to upgrade its services, provide care and keep jobs in Rockland County. Things did not work out the way we had hoped.
• Over the coming days, we have difficult decisions to make and we will communicate those decisions after we have a chance to consult with our attorneys, the LDC and the Legislature.

Those difficult decisions stem from the financial mess that Rockland County put itself in over a period of years. The sale of the hospital was meant to remove a large expense from the county’s budget.

The deal was valued at $32 million.