Hoboken Hospital Authority extends negotiation exclusivity period to April 20; will meet next week

HOBOKEN – The negotiations between the Hoboken Municipal Hospital Authority and a group from Bayonne for the sale of Hoboken University Medical Center will continue until at least April 20.
The authority is trying to sell the hospital to a private buyer, and after eight bidders stepped forward, the authority decided to negotiate exclusively with HUMC Holdco, a group with common ownership with Bayonne Medical Center.
Hoboken Municipal Hospital Authority Chairwoman Toni Tomarazzo said in a phone interview on Tuesday afternoon that both sides will continue to negotiate exclusively, and on April 20 at 7 p.m. the HHA will gather for a special meeting.
Tomarazzo said that a discussion of the potential sale will be on the agenda for the April 20 meeting.
The Hoboken City Council voted in 2007 to guarantee $52 million in bonds to keep the hospital alive. Now, the Hoboken Hospital Authority is looking to sell the hospital for at least the $52 million bond price. For previous coverage, see the links below. — Ray Smith

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