All but 29 jobs at the 149-year-old hospital were saved by Prime’s $62 million purchase, half of which were in management, according to the report.
Prime has reached agreements and ratified new contracts with the three predominant unions representing employees at the hospital, a Prime spokesman told NJ.com.
The finalized sale is the culmination of a three-year process that came with a series of hurdles to jump over, including multiple price changes, a string of state approvals and a reporting recommendation that the hospital be closed.
“There should be no doubt in anyone’s mind that Prime Healthcare has saved St. Michael’s, along with nearly 1,400 jobs that we could not afford to lose in this city,” Newark Central Ward Councilwoman Gayle Chaneyfield Jenkins said in a release about the purchase, according to the report. “Instead of an empty hospital building, we will continue to have a thriving hospital in the heart of the Central Ward.”
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