New Jersey health system will convert to nonprofit

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CarePoint Health is transitioning to nonprofit control with the formation of a new organization, the Jersey City, N.J.-based system announced Oct. 4. 

The new nonprofit system, which includes three hospitals, will be led by current CarePoint CEO Achintya Moulick, MD. He is engaged with local community members and will announce a new nonprofit board and mission statement. 

CarePoint co-founders Vivek Garipalli and James Lawler will step down from their oversight roles after a board is formed for the nonprofit. 

Transitioning from a for-profit system will help CarePoint expand clinical services, Dr. Moulick said. 

"The pandemic has shown community hospitals to be the cornerstones of healthcare delivery in Northern New Jersey and the transition to a non-profit is the best way to ensure we remain so for future generations," Dr. Moulick said.

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