Judge OKs Carepoint’s restructuring plan

A U.S. Bankruptcy Court judge approved Jersey City, N.J.-based CarePoint Health’s restructuring plan on Jan. 23 after the system sought Chapter 11 protection Nov. 3, a spokesperson for the system confirmed with Becker’s. 

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CarePoint comprises Bayonne (N.J.) Medical Center, Jersey City, N.J.-based Christ Hospital and Hoboken (N.J.) University Medical Center. 

Hudson Regional Hospital in Secaucus, N.J. owns Bayonne Medical Center. CarePoint shared plans in late October to affiliate with the hospital under management services organization Hudson Health System, which will acquire CarePoint’s other two properties under a partnership agreement. 

A CarePoint spokesperson said that its financial restructuring is “subject to court proceedings” and that it can’t provide additional details until the plan is finalized. 

“[W]e want to emphasize that the steps we are taking with Hudson Regional Hospital as the debtor-in-possession financier along their leadership driving transition meetings, are all essential for building a stronger, more efficient health care system in Hudson County,” the spokesperson said. 

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