HOBOKEN — The Hoboken Hospital Authority (HHA) voted unanimously on Tuesday evening to begin exclusive negotiations with HUMC HoldCo. LLC for acquisition of Hoboken University Medical Center. The company is already affiliated with Bayonne Medical Center.
“[HUMC Hold Co. LLC] has a track record of hospital management that will ensure the long term viability of this institution,” said HHA Chairwoman Toni Tomarazzo.
In 2007, the city saved the hospital from closure by backing a $52 million bond ordinance to keep it alive as an acute care facility. The Authority is hopeful that the sale of the hospital will be greater than the $52 million bond. The details of the ongoing negotiations were not released on Tuesday. Tomarazzo said the process is just beginning, and there are “no guarantees” that a sale will happen.
For a full story on the proposed hospital acquisition, see the weekend’s Hoboken Reporter.– Ray Smith
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