Christ Hospital - In The News

Jersey City's Christ Hospital rejects $91M purchase offer from owner of Bayonne, Hoboken medical centers 

The owner of two Hudson County hospitals, Hudson Hospital Holdco LLC, is targeting a third hospital in the county.

In a letter sent to Christ Hospital CEO Peter Kelly dated Dec. 23, Hudson Hospital Holdco LLC, the parent company of Bayonne and Hoboken medical centers, made what it termed an “initial” offer of $91.6 million for the debt-ridden Jersey City hospital.

Counted in the $91.6 million is $35 million for working capital and capital improvements. The remaining $56 million would be used to pay off Christ Hospital’s debt, bills and employee pension obligations.

To Sell or Not to Sell 

Residents throughout Jersey City packed a Summit Avenue church Wednesday to express concerns and reservations over the proposed sale of Christ Hospital to a for-profit hospital chain.

“I understand the hospital is in a state of financial crisis. And I recognize that it needs to be economically viable in order to stay open,” said community activist Paul Bellan-Boyer, who helped organize the “town hall” meeting at Second Reform Church. “Clearly, we need to find ways of doing that. But I’m not convinced that this sale is in the best interests of the residents of Jersey City.”

State officials won't approve pending sale of Christ Hospital in Jersey City this year 

JERSEY CITY — State officials will not approve the pending sale of Christ Hospital in Jersey City to a California for-profit healthcare chain by the end of the year, according to a letter from the state Attorney General’s Office to a city official.

Prime Healthcare Services, the California chain, told Christ Hospital CEO Peter Kelly in an Aug. 12 letter that it wanted the $15.8 million sale completed by Dec. 31, 2011, or else it could “terminate” the agreement to buy the Palisade Avenue hospital.

CEO of Christ Hospital defends deal to sell Jersey City hospital to California-based Prime Healthcare Services, now undergoing FBI investigation of its billing practices 

Amid a standing-room-only crowd of more than 100 last night, Peter Kelly, the CEO of Christ Hospital in Jersey City, defended the proposed $15.8 million sale of the hospital to California-based Prime Healthcare Services at a community meeting at the Abundant Joy Christian Center on Bowers Street.

Among the critics of the proposed sale in the audience was Joseph Scott, president and CEO of LibertyHealth, which owns and operates Jersey City Medical Center.

Kelly emphasized that the sale of the hospital is necessary to keep it open, something he said he cannot guarantee without the sale.

Sale of Christ Hospital in Jersey City to Alabama real-estate trust may be in the works 

The prospective new owner of Christ Hospital plans to sell the Jersey City hospital to an Alabama-based real-estate investment trust, and then lease back the property for $7 million annually, according to documents obtained by The Jersey Journal.

The lease-back plan, which Christ Hospital CEO Peter Kelly said is still just an idea, was revealed in a 92-page document the hospital filed with the state in September.

Christ Hospital officials hope the state will OK its sale to California-based Prime Healthcare Services for $15.8 million.