Hudson Regional Hospital, in the latest effort by the Secaucus-based medical center to buy Bayonne Medical Center and Hoboken University Medical Center, agreed to buy the properties on which they sit from owner Avery Eisenreich for a total of $220 million.
HRH has offered to buy Hoboken UMC, Bayonne Medical Center and Jersey City’s Christ Hospital from CarePoint — which announced its intention to sell in November. However, CarePoint has not yet responded to the offer or HRH’s “proof of funds” letter, HRH said.
“Last night, we agreed to an unconditional deposit payment and purchase price for the hospital properties, and we expect to close within 90 days,” Dr. Nizar Kifaieh, HRH’s CEO and president, said in a prepared statement Tuesday. “We have removed the most significant obstacle to fulfilling our vision of creating a premier hospital network in Hudson County without burdening the taxpayers or any public funding during these very trying times.”
The new deal would give HRH ownership of the land under the two hospitals, at a price of $76 million for the Bayonne property and $144 million for the Hoboken property, HRH said.
Eisenreich and CarePoint had failed to reach an agreement on a deal for the land earlier this year, and the Hudson County Improvement Authority had announced it would commence eminent domain proceedings to protect the hospitals’ viability.
“We expect to marry land ownership with hospital operations to resolve any concern about the stability of the health care network,” Kifaieh said. “These were difficult, complex negotiations that took place over several months, and we are very gratified by our Chairman Yan Moshe’s commitment to compete the transaction.”