The New Jersey Department of Health and Human Services approved surgery center developer Yan Moshe's request to purchase Secaucus, N.J.-based Meadowlands Hospital Medical Center, northjersey.com reports.
Here's what you should know:
1. The New Jersey Health Planning Board urged the state to approve the sale of the hospital to Mr. Moshe for $12.2 million in late November. Mr. Moshe owns two surgery centers in Bergen County, N.J.
2. Mr. Moshe committed to spending an additional $26 million to purchase the land the hospital is on. He has no experience running a hospital.
3. Acting NJHHS Commissioner Christopher Rinn approved the sale because of fears the hospital would close if Mr. Moshe was denied. He said, "Closure of [Meadowlands Hospital] would disrupt and decrease access to hospital services for the Secaucus community."
4. As part of his application, Mr. Moshe committed to maintaining the hospital's bed capacity, services, employees and contract agreements. He also committed to investing $3 million in new equipment. The state is requiring Mr. Moshe to continue operating the hospital as a general hospital.
5. Mr. Moshe said, "There's much that can be done to enable [the hospital] to achieve its full potential, to provide high-quality and cost-effective healthcare services to residents of Hudson County."