As part of the final step in CarePoint Health’s bankruptcy exit, Hudson Regional Hospital announced a four-hospital system has been created.
Secaucus-based Hudson Regional Hospital, Jersey City-based Christ Hospital, Hoboken University Medical Center and Bayonne Medical Center, and more than 70 affiliated locations, received plan approval from U.S. Bankruptcy Judge Kate Stickles on April 17 and into effect May 22.
Hudson Regional Health is led by CEO Dr. Nizar Kifaieh and Chairman Yan Moshe.
Moshe is completing the acquisition of all the hospital properties and the operations of Bayonne Medical Center and will oversee the operations of the not-for-profits Hoboken University Medical Center and Christ Hospital. Moshe also contributed more than $120 million to facilitate CarePoint’s exit from bankruptcy and to ensure facility upgrades.
“More than 5 years ago, it was clear to us that the only means of creating a thriving healthcare environment in Hudson County was to recapitalize the property ownership and the operations of its four major hospitals into one high-performing, efficient and stable organization,” Moshe said. “Through the tireless determination of our team and our commitment our vision, the community can now look forward to a leading blend of state-of-the-art medical facilities, pre-eminent providers and skilled management.”
Moshe and Kifaieh credited the collaboration of an extensive team as the source of inspiration and expertise that led to the bankruptcy reorganization plan, notably Hudson Regional’s attorney Mohamed Nabulsi and former CarePoint CEO Dr. Achynta Moulick.
“Dr. Moulick worked selflessly and tirelessly to assure that these hospitals survived to realize their potential in a new management structure, and Mr. Nabulsi methodically put the pieces together so that we leveraged our strengths while overcoming obstacles along the way,” Moshe said.
Over the coming weeks, Hudson Regional Health will roll out its branding and identification program with new community activation, public health, wayfinding and online programs.
