HOBOKEN – The city of Hoboken will no longer be in the business of owning a hospital.
Eleven months removed from the beginning of the negotiation process with HUMC Holdco, a private company that co-owns Bayonne Medical Center, the sale of Hoboken University Medical Center to the group will be completed on Friday, according to Mayor Dawn Zimmer.
The sale will relieve city taxpayers of a $52 million bond guarantee that was made in 2007 when the council voted to save the facility from closure. The new ownership group could begin running the hospital as early as this weekend.
For more on the hospital sale, make sure to keep reading HudsonReporter.com and pick up a copy of The Hoboken Reporter this weekend. — Ray Smith