Hoboken Hospital Authority could move closer to sale tonight, April 20

HOBOKEN – After more than four months of negotiations, it appears the Hoboken Municipal Hospital Authority may take a big step toward the sale of Hoboken University Medical Center to a group from Bayonne.
On the agenda for the April 20 HMHA special meeting is a resolution “authorizing the execution of an asset purchase agreement.”
HMHA Chairwoman Toni Tomarazzo said on Wednesday morning that the execution of the asset purchase agreement wouldn’t “close” the sale, as the sale cannot be final until the regulatory reviews by the state are completed.
If the resolution is approved, the authority would enter into a contract with HUMC Holdco, a group that has common ownership with Bayonne Medical Center, and the negotiation period would be over. Then, the state review process can begin.
Before the vote at the meeting, the authority will present details of the proposed asset purchase agreement.
Tonight’s meeting will begin at 7 p.m. in Assumption Hall at Hoboken University Medical Center. – Ray Smith

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