U.S. Bankruptcy Court Judge Kate Stickles has approved Secaucus, N.J.-based Hudson Regional Hospital to take over operational control of three Jersey City, N.J.-based CarePoint Health hospitals, allowing the system to exit bankruptcy.
Hudson Regional now owns and operates Bayonne (N.J.) Medical Center and operates both Jersey City-based Christ Hospital and Hoboken (N.J.) University Medical Center, under the approved management agreement. Each hospital is now operated by an affiliated property owner, according to an April 11 news release shared with Becker’s.
CarePoint sought Chapter 11 protection Nov. 3 and received bankruptcy court approval in January to affiliate with Hudson Regional under management services organization Hudson Health System through a restructuring plan.
In late March, New Jersey Department of Health Commissioner Kaitlan Baston approved Hudson Regional’s certificate of need to be the permanent operator and owner of Bayonne Medical Center. Hudson Regional has owned the Bayonne property since July 2020.
“Building on the healthcare model we established at Hudson Regional, we see a vibrant opportunity to substantially modernize facilities and practices in each location and use our new scale to deliver greater value to patients,” Yan Moshe, chairman of Hudson Regional Hospital, said in the release. “The future is bright.”
