St. Francis Hospital has announced a $3.3 million asset acquisition from privately owned physician group NRAD Medical Associates PC of Garden City, which filed for bankruptcy this summer.
The purchase of radiation therapy equipment and three NRAD Long Island facilities will bolster the burgeoning cancer care services offered by Roslyn-based St. Francis.
As part of the deal, St. Francis will provide care at an NRAD site in Garden City before later moving equipment and staff from there to the hospital's Cancer Institute at 2200 Northern Blvd. in East Hills.
St. Francis, which is seeking to grow its 3-year-old cancer program, will also be hiring 15 NRAD employees, including physicians, clerical personnel and technicians.
"The NRAD acquisition helped us jump-start" the hospital's oncology services, said Ruth E. Hennessey, executive vice president and chief administrative officer of St. Francis. The purchase gives the hospital "strong clinical leadership to help build the future of the program," she said.
The hospital also plans to provide care at another former NRAD site in Woodbury.
NRAD Medical, founded on Long Island in 1927, filed for Chapter 11 on July 7, according to filings with the U.S. Bankruptcy Court's Eastern District of New York in Central Islip.