Secaucus, N.J.-based Hudson Regional Health, a four-hospital system, has been created as part of the final step in CarePoint Health’s bankruptcy exit.
U.S. Bankruptcy Judge Kate Stickles approved the plan April 17, which went into effect May 22. The system comprises Secaucus-based Hudson Regional Hospital, Jersey City-based Christ Hospital, Hoboken (N.J.) University Medical Center and Bayonne (N.J.) Medical Center, and more than 70 affiliated locations, according to a May 27 Hudson Regional Health news release shared with Becker’s.
CarePoint sought Chapter 11 protection Nov. 3. In January, the health system secured bankruptcy court approval to affiliate with Hudson Regional under management services organization Hudson Health System as part of a restructuring plan. Hudson Regional then received a certificate of need from New Jersey Department of Health Commissioner Kaitlan Baston in late March to become the permanent operator and owner of Bayonne Medical Center, which it has owned the property of since July 2020.
Hudson Regional Health, which now comprises 5,000 employees and more than 1,500 doctors, is led by CEO Nizar Kifaieh, MD, and chairman Yan Moshe. Mr. Moshe also contributed more than $120 million to facilitate CarePoint’s exit from bankruptcy and to ensure facility upgrades.
“Mr. Moshe, who transformed the former Meadowlands Hospital into Hudson Regional Hospital in 2018, is completing acquisition of all the hospital properties and the operations of Bayonne Medical Center and oversees the operations of the [nonprofit] Hoboken University Medical Center and Christ Hospital,” the release said.
