The financial details of the sale were not disclosed in the report, but MHA will continue to operate Meadowlands as an acute-care facility.
MHA was formed specifically to purchase the hospital, according to the report. It is led by William L. Vasquez, who most recently served as vice president for business development at Newark (N.J.) Beth Israel Medical Center.
Officials from LibertyHealth said Meadowlands was put up for sale because it wasn’t attracting enough patients, according to the report. Transfer of ownership will occur once the deal is approved by the New Jersey Department of Health and Senior Services and Attorney General’s office approve the sale.
Read the Journal’s report about the sale of Meadowlands Hospital.
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