Rescue plan appears for New York Downtown hospital

Rescue plan appears for New York Downtown hospital

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NEW YORK (AP) -- NewYork-Presbyterian Hospital has proposed taking over Manhattan's only hospital below 14th Street.

According to The New York Times, it has filed a "certificate of need" with the state Health Department in a proposed rescue of New York Downtown.

NewYork-Presbyterian is one of the city's largest academic medical centers. It says New York Downtown is vital to lower Manhattan after St. Vincent's Hospital declared bankruptcy in 2010.

It covers the areas of Chinatown, Wall Street and East Village.

New York Downtown has been affiliated with NewYork-Presbyterian health care system while maintaining separate operations. It is projected to face a significant operating loss in 2013.

The state Health Department would have to approve the takeover.

NewYork-Presbyterian says it would be made at no cost to the state.

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