Modern Healthcare - - REGIONAL NEWS -

HOBO­KEN, N.J.— New Jersey Gov. Chris Christie said the state would com­mit $5 mil­lion to help close the sale of the founder­ing Hobo­ken Univer­sity Med­i­cal Cen­ter. The mu­nic­i­pal hos­pi­tal’s man­age­ment com­pany en­tered bank­ruptcy in Au­gust. The gov­er­nor’s an­nounce­ment came af­ter the Hobo­ken City Coun­cil re­fused to pledge $5 mil­lion “ef­fec­tively forc­ing the state’s old­est hos­pi­tal to close within the next few weeks and risk­ing mu­nic­i­pal au­thor­ity de­fault in Hobo­ken,” a writ­ten state­ment from the gov­er­nor’s of­fice said. Sale of Hobo­ken Univer­sity Med­i­cal Cen­ter to the com­pany that owns the Bay­onne (N.J.) Med­i­cal Cen­ter is pend­ing be­fore a bank­ruptcy judge. Toni To­marazzo, the chair­woman of Hobo­ken Mu­nic­i­pal Hos­pi­tal Au­thor­ity, said the $5 mil­lion would be used to­ward fi­nal­iz­ing the sale. BLOOMS­BURG, Pa.— Geisinger Health Sys­tem signed a de­fin­i­tive agree­ment to ac­quire Blooms­burg Health Sys­tem, which in­cludes a physi­cians group and 72-bed Blooms­burg Hos­pi­tal. A re­view of the deal by Penn­syl­va­nia’s Health Depart­ment and at­tor­ney gen­eral’s of­fice is ex­pected to take at least six months, said Regis Cabonor, pres­i­dent and CEO of Blooms­burg Health Sys­tem, in a news re­lease an­nounc­ing the deal. The sys­tem’s gov­ern­ing board will be­come an ad­vi­sory board af­ter the deal, which fol­lows last Novem­ber’s an­nounce­ment that two-hos­pi­tal Geisinger, based in Danville, Pa., would ac­quire 55-bed Shamokin Area Com­mu­nity Hos­pi­tal, Coal Town­ship, Pa. Blooms­burg re­ported op­er­at­ing losses in fis­cal 2010 and 2009, the most re­cent years for which fig­ures are pub­licly avail­able. The sys­tem lost $1.3 mil­lion from op­er­a­tions on rev­enue of $64.3 mil­lion in 2010. That’s com­pared with an op­er­at­ing loss of $2.9 mil­lion on rev­enue of $63.2 mil­lion the prior year.

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