A plan to find a new operator for Long Island College Hospital and keep it in operation has been approved by the court.

WCBS-TV reports that the State University of New York announced the settlement agreement was approved in Brooklyn Supreme Court on Tuesday.

The agreement was announced by Gov. Andrew Cuomo on Thursday.

It calls for an expedited bidding process to find a new owner.

The agreement will allow SUNY to cease operating Long Island College Hospital by this May. Cuomo said the hospital has been losing an “unsustainable” $13 million a month.

Mayor Bill de Blasio said last week that proposals for the future of the hospital must ensure that the health care needs of the community are met.

(AP)