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MONTEFIORE ST. LUKE’S CORNWALL AND ITS LENDERS REACH AGREEMENT

MONTEFIORE ST. LUKE’S CORNWALL AND ITS LENDERS REACH AGREEMENT

Newburgh, NY – Montefiore St. Luke’s Cornwall (MSLC) announced today that the hospital has reached an agreement with its lenders, KeyBank, Assured Guaranty and HSBC, on mutually acceptable terms regarding its outstanding debt. Last month, MSLC President and CEO, Joan Cusack-McGuirk shared that the hospital was engaged in ongoing negotiations with its lenders. Since that time, MSLC and its lenders reached a resolution that is satisfactory to all parties.

Cusack-McGuirk stated “We appreciate the support of our local, and state elected officials, including Senator James Skoufis, whose advocacy was instrumental...along with Congressman Sean Patrick Maloney, Assemblyman Colin Schmitt, and Orange County Executive Steve Neuhaus. Throughout the last several weeks there have been straightforward, swift responses, as well as sincere interest and concern regarding MSLC and what our staff and community has endured since March when the COVID-19 pandemic began. On behalf of all of us at MSLC, we appreciate this demonstration of partnership.”

MSLC is committed to providing exceptional health care to improve the lives and well-being of the people in its communities, which MSLC is privileged to serve.

About Montefiore St. Luke’s Cornwall

Montefiore St. Luke’s Cornwall (MSLC) is a not-for-profit community hospital with campuses in Newburgh and Cornwall, NY. The hospital is dedicated to serving the health care needs of the Hudson Valley and has achieved excellence in the delivery of compassionate and comprehensive health care services. In January 2018, MSLC officially became part of the Montefiore Health System to strengthen the delivery of health care locally and enhance access to exceptional specialty care for Hudson Valley residents. In March 2019, the hospital changed its name from St. Luke’s Cornwall Hospital to Montefiore St. Luke’s Cornwall.