Jersey City Medical Center and health care company make joint offer to buy Christ Hospital
Jan 26, 2012 | 3065 views | 0 0 comments | 7 7 recommendations | email to a friend | print
JERSEY CITY AND BEYOND -- Christ Hospital in Jersey City, one of the few non-profit hospitals left in Hudson County, is in negotiations to sell to a private California-based company. However, other prospective applicants have made offers.

On Wednesday, Jersey City Medical Center (JCMC) President and CEO Joseph Scott made the following statement about a new joint proposal with Community Healthcare Associates (CHA) to purchase Christ Hospital:

"Jersey City Medical Center, in partnership with Community Healthcare Associates, offered today a proposal for the purchase of Christ Hospital in Jersey City. In a letter of intent that was delivered to Christ Hospital President & CEO Peter Kelly, we set forth our vision for the future of the facility and its critical role in providing healthcare services for Hudson County. The proposal lays out four tenets: to continue operating Christ as a non-profit acute care community hospital for a period of not less than 30 years; to preserve and create jobs while maintaining the existing unions; to continue to build a positive working relationship with the medical staff; and to expand Christ’s role as a healthcare leader and educator in Jersey City, Hudson County and New Jersey.

"Jersey City Medical Center will be providing the operational support and our financial partner CHA will be providing the funding and capital. Our purchase price of $104,350,000 (One hundred and four million, three hundred and fifty thousand dollars), from our financial partner, includes an agreement to cover operating losses during the transition period to avoid any disruption of services. Our long-term plan is to take the steps necessary to ensure quality and affordable access to healthcare services in New Jersey and Hudson County. Additional benefits of our proposal include a commitment to maintain both JCMC and Christ as in-network providers. We are committed to continuing our proven track record of good payer relations, quality medical care, and fiscal responsibility, with the pledge to make significant investments in Christ Hospital to ensure its long-term viability."

While the statement says the hospital is committed to remaining in-network with insurance companies, JCMC recently said it plans to drop in-network coverage of patients with Aetna in February. However, the hospital said it will continue negotiating with Aetna to avoid this situation. (See links below to earlier stories.)
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