Hudson Regional Hospital has officially taken control of Hudson County’s struggling CarePoint Health System, establishing a new, countywide health network.
On Friday, a federal bankruptcy court judge confirmed CarePoint’s plan to exit bankruptcy and hand over control of its three hospitals ― Christ Hospital in Jersey City, Bayonne Medical Center and Hoboken University Medical Center — to Hudson Regional, according to a press release.
The management agreement makes Hudson Regional the official owner and operator of all three CarePoint hospitals, which were on the brink of closing after accumulating massive debt. Hudson Regional has owned the Bayonne Medical Center property since July 2020.
“This is a threshold moment for Hudson County, as Hudson Regional Hospital can finally realize its vision of high-performing healthcare network with esteemed services and financial stability,” said Yan Moshe, chairman of Hudson Regional Hospital in a press release.
Moshe, a real estate developer and owner of surgical centers, purchased the struggling Meadowlands Hospital Medical Center for $12.2 million in 2017 and changed the name to Hudson Regional Hospital. Since then, the hospital has spent millions on improvements, renovations, and upgrades.
“In Secaucus, our community hospital slowly declined for a decade before Hudson Regional transformed the facility and the healthcare services, achieving far more than we ever expected,” said Secaucus Mayor Mike Gonnelli in a press release.
The three hospitals in the CarePoint Health system are Bayonne Medical Center, Christ Hospital in Jersey City, and Hoboken University Medical Center.Jersey Journal file photos
CarePoint filed for bankruptcy in November 2024 after amassing a debt of $300 million, a financial calamity that threatened to close half of Hudson County’s six hospitals. The reorganization plan approved on Friday saves the three imperiled hospitals and establishes a new Hudson County health network consisting of Hudson Regional in Secaucus, Bayonne Medical Center, Hoboken University Medical Center, and Christ Hospital.
Under the plan, Hudson Regional expects to transform and modernize each of the former CarePoint facilities.
“We fully recognize that services can, and must be improved at all three facilities,” said Dr. Nizar Kifaieh, president and chief executive officer of Hudson Regional. “Our goal is simple: we want residents of all three communities as well as the surrounding area to have confidence in their community hospital. We will be working diligently to restore the trust in the healthcare system, and bring reliable, quality healthcare to the people we serve.”
The agreement was praised by officials in Bayonne, Hoboken, and Jersey City.
“Several years ago, Hudson Regional Hospital took over the Meadowlands Hospital, that, like Hoboken, was on the brink of collapse,” said Mayor Ravi S. Bhalla in a statement sent to NJ Advance Media.
“Just a few short years later, they transformed it into a thriving hospital that is well respected and utilized by the local community. I have no doubt that with the proper resources they will replicate that success in Hoboken and build a thriving, quality healthcare system for our community,” Bhalla said.
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NJ Advance Media research editor Vinessa Erminio contributed to this report.
Jackie Roman may be reached at jroman@njadvancemedia.com.
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