Yan Moshe, owner and CEO of Hackensack, N.J.-based Excel Surgery Center, has offered to purchase 204-bed Meadowlands Hospital Medical Center in Secaucus, N.J., for $12.2 million, according to The Record.
Mr. Moshe's company NJMHMC LLC filed the application for the certificate of need for the sale. If the sale goes through, Mr. Moshe will retain "substantially all" of the hospital's staff, according to the application.
Meadowland's finances have taken a hit from a decrease in patient volume. In 2015, Meadowlands averaged 33 patients per day, according to the report.
The hospital has been under fire in recent years for failing to submit required audited financial statements. State regulators have fined Meadowlands more than $211,000 for failing to submit the statements, according to the report.
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