Hundreds of staff, union and community leaders rallied outside St. Vincent's Hospital Thursday afternoon in an attempt to keep the cash strapped institution from closing its doors.

The Greenwich Village facility is $700 million in debt and has been struggling financially for years.

The hospital currently employs about 3,400 people.

Continuum Health Partners is expected to take control of the hospital and convert it to a community health center.

Inpatient care and surgical services would cease and emergency services would be scaled back.

"Some things are just to important to let close and too important to have the decision exclusively be determined by the financial bottom line. And that's the case in St. Vincent's," said City Council Speaker Christine Quinn.

"When no other hospital in this community would have served and take in patients, we did it. Now we are in a financial crisis, and we need help from anyone out there that is hearing us," said St. Vincent's Hospital nurse Diana Newball.

Following the rally, a town hall meeting organized by 1199 SEIU, the health care workers' union, was held at Our Lady of Pompeii Church.

Those who attended the meeting said the closure would affect both the hospital's workers and the community it serves.

"I went into the medical field because I like to help people and I hope to be able to continue to do that. That's why I got into this field. It's not a money thing. We've given up our raises, year after year to stay here," said one hospital worker.

"When they filed bankruptcy some years ago, in 2005, it was to restructure their debt. But the interest based on the amount of money that they had to take out loans for has mounted astronomically. So they just don't have the capability financially, unless we have the ability to turn things around in the state," said 1199 Healthcare Workers Union member Coraminita Mahr.

Since the state would have to approve any plans for a takeover, many who attended the meeting said they're prepared to make their case in Albany.