Hudson Regional Hospital has secured long-term, low-cost financing in a move Hudson Regional officials feel adds another layer of protection and stability for the Bayonne Medical Center property.
Hudson Regional purchased the Bayonne Medical Center property in 2020 for $76 million. Hudson Regional officials feel their fiscal and financial strength was a key component in securing this low-cost loan, which did not require government support or guarantees.
Hudson Regional Hospital Chair Yan Moshe said bringing stability to the area was key.
“When CarePoint announced that it was exiting the acute care market, the people of Bayonne were faced with an uncertain health care future,” he said. “Our purchase of the Bayonne Medical Center property assured that there was a premier health care provider with a solid balance sheet ready to step in and operate the facility at a moment’s notice.”
Dr. Nizar Kifaieh, the CEO of Hudson Regional, agreed.
“This financing assures that residents of Bayonne will have local access to an acute care facility,” he said.