CarePoint Health Hospital in Hoboken and Jersey City Heights at Christ Hospital is undergoing some changes — and likely by the end of 2019. In a joint press release on October 22nd, CarePoint Health and RWJBarnabas shared that they will be working together for RWBJBarnabas to acquire CarePoint Health in both Hoboken and Jersey City + its affiliates. Here’s what we know:
{Photo credit: @carepointhealth}
A Letter of Intent was Sent
The non-binding letter of intent proposes the basic structure for the forthcoming transaction of RWBarnabas purchasing CarePoint’s two locations, and it appears to put the two institutions on a path to find a mutually beneficial agreement, which is said to be happening before the end of 2019. Additionally, CarePoint Health has initiated a separate process seeking a strategic partner for Bayonne Medical Center.
The LOI is essentially evaluating and figuring out a new relationship that will enhance health care services for Hudson County and North Jersey. Both parties said that they will now engage in a due diligence process to define the specifics of the relationship. Approvals will be necessary from state and federal officials, and others, before the transaction is considered complete.
Under the terms of the LOI, the services and resources for Hoboken University Medical Center and Christ Hospital as full-service providers of acute health care services for the Hudson County community will be enhanced.
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It’s Not Set in Stone But Seems Like It’s Happening
The fact that the two companies released a joint press release means that this is almost a sure thing, and looks to happen quite soon.
The Agreement May be Reached by EOY
The two companies shared that the agreement will be reached by the end of the year, most likely.
Bayonne’s Mayor is Not Happy About It
Because CarePoint Health has a location in Bayonne that will be sought via a separate process, Bayonne’s Mayor Jimmy Davis is not thrilled, to say the least. He told the Hudson County View, “This pending deal between CarePoint Health and RWJ Barnabas Health reeks of an outright betrayal of our City and is certainly not good news for Bayonne Medical Center and our residents. Yesterday, we were told that there was no deal to sell off CarePoint’s hospitals and today we learn that this was simply false. The fight to save our hospital is only just beginning.”
Mayor Bhalla’s Thoughts About the Potential Acquisition
“I’m very pleased that RWJBarnabas intends to continue offering high-quality healthcare at the Hoboken University Medical Center. The hospital serves a critical need to both the residents of Hoboken and the surrounding communities in Hudson County and must continue to operate in our City. My office has received multiple assurances that any prospective transaction will not impact the continuation of medical services or employment at the hospital, and we will continue to work closely with both CarePoint and RWJBarnabas to ensure that this occurs. Thank you to Toni Tomarazzo for serving as a critical link from the City to the Hoboken Hospital Board and both healthcare providers.”
About CarePoint Health
Originally called St. Mary’s, Hoboken University Medical Center was New Jersey’s first hospital, per CarePoint Health, and has been providing care since 1863. It features 333 licensed beds and a transitional care unit with 15-licensed long-term care beds, a 34-bay emergency room and dedicated OB-GYN emergency department, and private rooms in its family birth unit which deliver 1,100 births annually.
More than 44,000 patients are treated annually at the hospital, which is also home to specialty medicine including child and adult behavioral health, women’s health, wound care, orthopedics, and robotic surgery.
The affiliated HUMC Neighborhood Health Center serves the uninsured and underinsured with more than 22,000 visits annually for primary and specialty care.
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Christ Hospital has been serving the Jersey City community for more than 140 years and was a founding member of the New Jersey Hospital Association. The 362-bed facility treats 47,667 patients annually and is home to a state-certified stroke center and primary angioplasty center, an emergency room team and an OB-GYN emergency department.
The hospital, with 650 births annually, also features specialty medicine for child and adult behavioral health, women’s health, heart and vascular care, dialysis, as well as a sleep center and surgical specialties. The Christ Hospital Neighborhood Health Center provides primary and specialty healthcare services for the uninsured and underinsured in the community, treating 10,000 patients annually.
About RWJBarnabas
RWJBarnabas Health is a network of independent healthcare providers in New Jersey, based out of West Orange. Members include academic centers, acute care facilities, and research hospitals. The goals of the network include collaboration on educational and research programs, according to its website. It was founded in 1865.
The Future of Healthcare Locally
The announcement seems to be positive for the area, as services will be enhanced under the new ownership, according to the press release. The rest remains to be seen — but we will keep you updated as the changes occur.
What are your thoughts on the acquisition? Share in the comments below!
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