Judge OKs sale of Christ Hospital to Holdco LLC
NEWARK – Federal Bankruptcy Judge Morris Stern ruled on March 27 in favor of Hudson Hospital Holdco LLC, which owns Bayonne Medical Center and Hoboken University Medical Center, clearing the way for the company to buy Christ Hospital in Jersey City.
Holdco and a combined bid from Community Healthcare Associates (CHA) and LibertyHealth System, the owner of Jersey City Medical Center, had each bid on the financially-strapped hospital in Jersey City.
“Extending excellent healthcare services motivated Jersey City Medical Center to submit a bid to operate Christ Hospital as a not-for-profit organization,” said Mark Rabson, spokesperson for Liberty. “Everything we promised was consistent to the recommendations made by the state.”
For more than a week, the fate of Christ Hospital has been tied up in a federal bankruptcy court in Newark. On March 23, the two entities were told to revise bids that were submitted to the bankruptcy court on March 15 after the hospital’s creditors and trustees threw their support behind different bids.
The creditors’ committee on March 21 backed the bid submitted by CHA/LibertyHealth System. The next day the hospital’s board of trustees voted in support of the bid from Hudson Holdco.
After receiving revised bids, various stakeholders continued to sift through what was submitted to determine the best and most viable option for the bankrupt medical facility.
The Holdco bid will still have to be approved by various state agencies, including the Dept. of Health and Senior Services.
The hospital’s Board of Trustees met Monday morning to weigh the revised bids from Holdco and (CHA)/Liberty and a committee representing the interests of the hospital’s creditors met on Tuesday to review the revised bids submitted on March 23.
Judge Stern met with representatives from the creditors’ committee and the Board of Trustees on Tuesday, to get their opinions of the revised bids. A representative from the state Dept. of Health and Senior Services was also expected to give Judge Stern an opinion of the revised proposals.
Christ Hospital filed for bankruptcy last month after a sale agreement to a private health care company in California fell through. The hospital serves a large uninsured and indigent population and currently loses about $800,000 a month, according Christ CEO Peter Kelly.
Join Team HobokONE to run the Lincoln Tunnel Challenge
HOBOKEN – The race is on to be the biggest team to compete in the Lincoln Tunnel Challenge to benefit the Special Olympics. And there’s a special team you can join, sponsored by the Hoboken Family Alliance.
Interested parties can be part of one race, one team, and one community on Sunday April 29 when they run alongside more than 3,500 people through the tunnel and back. Last year Team HobokONE fielded a team of more than 60 people and was the second biggest fund raiser at the event with $4,300.
Register today and help make Team HobokONE, number one! Register at http://bit.ly/GoTeamHobokONE.
Team members will be able to pick up bibs the day before the race and join the team afterward at City Bistro for complimentary fare and cocktails.
Please contact Theresa Howard at thoward315@gmail.com with any questions.
Hoboken business administration team announced; see their resumes here
HOBOKEN – Mayor Dawn Zimmer has announced the hiring of Quentin Wiest and Stephen Marks as Business Administrator and Assistant Business Administrator, respectively, according to city spokesperson Juan Melli. “I am very excited about this team and the strong backgrounds they bring,” said Mayor Zimmer. “They will be a great asset to the City of Hoboken.” The two were likely hired to replace former Business Administrator Arch Liston, who relocated to South Jersey for family reasons in January. Wiest’s resume states that he formerly served as Business Administrator for the Borough of Closter, and is the former Mayor of Ridgewood. Marks’ resume states that Marks has served as Hudson County Planning Director since 2004.