New iden­tity

N.J. health sys­tem to of­fer Med­i­caid, in­sur­ance

Modern Healthcare - - REGIONAL NEWS - Jaimy Lee

Afor-profit com­pany that owns three hos­pi­tals in New Jersey un­veiled a new iden­tity as an in­te­grated health sys­tem with plans to of­fer a Med­i­caid plan and sell in­sur­ance on the state ex­change about to launch un­der the health­care re­form law.

In re­cent years, the Jersey City, N.J.-based com­pany, do­ing busi­ness as Hud­son Holdco, ac­quired 170-bed Bay­onne (N.J.) Med­i­cal Cen­ter, 381-bed Christ Hos­pi­tal in Jersey City and 204-bed Hobo­ken (N.J.) Univer­sity Med­i­cal Cen­ter.

The sys­tem, re­branded Care­Point Health, will in­clude hos­pi­tals, pri­mary-care and preven­tive health cen­ters, in­sur­ance plans and a net­work of about 1,000 physi­cians.

“By bring­ing to­gether the re­sources of three great hos­pi­tals and the area’s lead­ing physi­cians, we can of­fer pa­tients what we call ‘360 de­grees of care’ from the hos­pi­tal to the doc­tor’s of­fice to the pa­tient’s home,” Care-Point Health spokesman Spencer Baretz said in a news re­lease. “Us­ing new mod­els of de­liv­ery, in­clud­ing new tech­nolo­gies, we can en­sure that pa­tients are treated in a fully col­lab­o­ra­tive fash­ion with ex­cep­tional, per­son­al­ized out­comes.”

Care­Point Health now of­fers a Medi­care Ad­van­tage plan and an in­sti­tu­tional spe­cial­needs plan.

Mark Spek­tor, pres­i­dent and CEO of Bay­onne Med­i­cal Cen­ter, said in an in­ter­view that Care­Point filed an ap­pli­ca­tion and let­ter of in­tent to sell an in­sur­ance plan on the state’s health­care ex­change, start­ing in 2014, and plans to en­ter the Med­i­caid mar­ket in July.

Spek­tor noted that Hud­son County has the largest num­ber of unin­sured and un­der­in­sured peo­ple in New Jersey, and health­care ser­vices in the county are frag­mented, which has cre­ated a need for clin­i­cal in­te­gra­tion. “Pa­tients may not get the con­ti­nu­ity of care that they re­quire,” he said.

Hud­son Holdco grew out of the 2008 ac­qui­si­tion of Bay­onne Med­i­cal Cen­ter, then in bankruptcy, by a group of in­vestors.

Both Hud­son and Prime Health­care Ser­vices, a for-profit hos­pi­tal op­er­a­tor based in On­tario, Calif., have been work­ing to ac­quire New Jersey hos­pi­tals, in some in­stances bid­ding on the same ones. In 2011, Hud­son made a play for Christ Hos­pi­tal, al­though the hos­pi­tal had al­ready ac­cepted an of­fer from Prime. Three months later, a judge ap­proved Hud­son’s of­fer to buy Christ Hos­pi­tal out of bankruptcy af­ter Prime with­drew its of­fer, cit­ing re­sis­tance from some lo­cal of­fi­cials op­posed to the out-of-state buyer.

Prime, though, beat out Hud­son for St. Clare’s Health Sys­tem, a four-cam­pus hos­pi­tal based in Denville, N.J., that’s part of Catholic Health Ini­tia­tives. Last week, Prime an­nounced a deal, ex­pected to close by early fall, to ac­quire St. Clare’s for an undis­closed sum. The com­pany has two other New Jersey hos­pi­tal ac­qui­si­tions pend­ing.

Catholic Health Ini­tia­tives pre­vi­ously agreed to sell St. Clare’s to the As­cen­sion Health Care Net­work, a for-profit ven­ture be­tween As­cen­sion Health Al­liance and Oak Hill Cap­i­tal Part­ners.

In a news re­lease, CHI said that it had dis­cus­sions with a num­ber of buy­ers, in­clud­ing Catholic, not-for-profit and for-profit or­ga­ni­za­tions.

In 2011, the com­pany now known as Care­Point Health beat out Prime Health­care Ser­vices to ac­quire Christ Hos­pi­tal, right.

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