Hearing on sale of Meadowlands Hospital in Secaucus set for Aug. 26

The state Health Planning Board has scheduled a meeting Aug. 26 on the proposed sale of Meadowlands Hospital in Secaucus to a group of investors who plan to operate the facility for profit, the hospital announced Thursday.

If the state approves the $15 million sale, the hospital would become the fifth in New Jersey to be owned or operated as a for-profit institution.

The buyers are MHA LLC, a private investment group that has said it intends to maintain the hospital as an acute-care facility.

The hospital would be run by William L. Vasquez, a consultant with 30 years' experience in healthcare management. Vasquez is a former vice-president of Newark Beth Israel Medical Center and the former chief administrative officer at St. James Hospital in Newark.

"This hearing will give the public the opportunity to address their comments and questions to the State Health Planning Board," said Mark Rabson, a spokesman for LibertyHealth, which operates Meadowlands Hospital.

The state Attorney General's Office is reviewing the sale as required under the Community Health Care Assets Protection Act. The review is required to determine whether appropriate steps have been taken to safeguard the value of the charitable assets of the hospital and to ensure that any proceeds from the sale are dedicated for appropriate charitable purposes.

The state health commissioner must determine whether the proposed transaction is likely to result in deterioration in the quality or availability of health care. The Superior Court must also approve the transaction.

Last month, the state Senate Health, Human Services and Senior Citizens Committee approved a bill to require greater transparency in the reporting of financial information by for-profit hospitals. The bill was sponsored by Sen. Loretta Weinberg, D-Teaneck, who heads the committee.

E-mail: layton@northjersey.com

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