After countless legal twists and turns and NYU chicanery, a deal was finally carved out five months ago to sell the embattled Long Island College Hospital to Fortis Property Group for $240 million, with Fortis planning to run the medical facility with partners NYU Langone Medical Center and Lutheran Medical Center. But that plan could still be halted if a group called Concerned Physicians of LICH gets its way. The group filed a Hail Mary of an appeal, which has a March 27 deadline, claiming that SUNY incorrectly evaluated the nine bids to buy the hospital, considering only the prices offered. According to the appeal, Trindade Value Partners, who bid the minimum of $210 million but also proposed $1.8 billion in financing, should have been the rightful winner. SUNY, however, contends that it's too late for appeals, and they'll probably get their way.
· Long Island College Hospital is closed, but litigation lives on [Crain's]
· LICH coverage [Curbed]