The sale of Hoboken (N.J.) University Medical Center to for-profit HUMC Holdco was finalized on Friday, according to a Jersey Journal report.
HUMC Holdco won a competitive bid in April to run HUMC after the hospital’s previous non-profit operator filed for bankruptcy. HUMC Holdco’s principals also run Bayonne (N.J.) Medical Center.
HUMC Holdco plans to operate HUMC as a for-profit hospital and has paid off $52 million in bond debt and agreed to invest $20 million in improvements, according to the report.
Related Articles on Hoboken University Medical Center:
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N.J.’s Hoboken University Medical Center Operator Files for Bankruptcy
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