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Christ Hospital in N.J. Considers Bankruptcy Following Failed Merger
Christ Hospital in Jersey City, N.J., is considering Chapter 11 bankruptcy as a next step after Ontario, Calif.-based Prime Healthcare yesterday withdrew its offer for the struggling facility, according to a report by the Hudson Reporter.The board has unanimously approved Chapter 11 reorganization if it is deemed necessary. According to a statement by the hospital, Chapter 11 would help preserve Christ Hospital's ability to provide acute-care services to the community.
In addition to Prime, Jersey City Medical Center and a holding company that owns Bayonne Medical Center in Hoboken made offers to acquire the facility. Christ rejected the second offer, and it's unclear whether it will consider Jersey City Medical Center's offer, according to the report.
Related Articles on Christ Hospital:
Prime Withdraws Bid for Christ Hospital in N.J.Jersey City Medical Center Bids $104M for Christ Hospital
Christ Hospital Rejects $91.6M Bid From NJ's Hudson Hospital Holdco
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