Bankruptcy buys Lake Shore more time

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IRVING, N.Y. (WIVB) – The new interim CEO at Lake Shore Hospital says he and the staff are doing all they can to keep the hospital and related health services alive.

John Galati took News 4 into the newly renovated emergency room at Lake Shore Hospital. He wants to spread the word that the center for health care in this region is not only open for business, but is still prepared to meet the health needs of the community.

“We’re open. We’re seeing patient.s We appreciate the support of the community. The medical staff has been on board, and actually since I’ve been here a short time, I’m impressed with the caliber and quality of the staff that we do have here,” he said.

The community rallied behind Lake Shore after it was announced back in October the hospital and its related services would close because it was deep in the red.

But on Wednesday, the hospital filed for Chapter 11 bankruptcy reorganization, buying officials more time.

Galati said, “To come out of that we need cash, and that means an infusion, and what we’re looking at is a short term process to get us through, which could be anywhere from 30, 60, 90 days, and then the longer term to say what’s the long term commitment to be here.”

As the hospital and health center decide what its core set of services will offer, one team of prospective buyers will work with the bankruptcy court and Lake Shore to determine the worth of the facilities.

Barry Covert is the attorney for Tony Borrello, who has proposed buying the hospital.

“Go in, look at all the documents. Look at all the beds. Look at the facilities, and due their due diligence to determine exactly what the price should be,” Covert said.

Meanwhile there is a new sense of hope on the part of the staff, that Lake Shore will survive. Doctors are being told to schedule surgeries into February.

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