On March 27, 2012, The Honorable Morris Stern, Judge for the United States Bankruptcy Court in Newark, New Jersey, approved the sale of Christ Hospital to Hudson Hospital Holdco, LLC. Hudson Hospital Holdco currently owns two hospitals in Hudson County, Bayonne Medical Center and Hoboken University Medical Center.
While both the New Jersey Department of Health and Senior Services and the New Jersey Attorney General must give final approvals of this sale prior to the transfer of the operating license, the transfer of ownership will signal a new era of financial stability for Christ Hospital. According to Peter A. Kelly, President and CEO of Christ Hospital, “The decision by Judge Stern for Hudson Hospital Holdco to move forward with the purchase of Christ Hospital will allow our institution to continue to fulfill its mission of providing accessible and quality healthcare services to the citizens of Jersey City and Hudson County.”
It is anticipated that the required approvals from the State will be received on or about June 30, 2012, after which time Christ Hospital will provide an overview of future plans and initiatives.
“I would like to take this opportunity to thank our physicians, employees, and patients, who have supported Christ Hospital during this difficult process.” Mr. Kelly added.