The hospital has two-long term debt issues totaling $130 million in need of refinancing and has suffered millions of losses over its past several quarters, including $57.2 million in losses for the past fiscal year and approaching $23 million for the current fiscal year, according to the report.
The hospital is the core teaching facility of the UMDNJ-New Jersey Medical School and is northern New Jersey’s only Level 1 Trauma Center, according to the hospital’s Web site. It has 519 beds and employs more than 3,000 people.
Read the Newark Star-Ledger’s report on the University Hospital financial crisis .
