Hudson Regional Hospital Secures Long-Term Financing For Bayonne Medical Center Property

SECAUCUS, N.J., Aug. 18, 2021 /PRNewswire/ -- Hudson Regional Hospital has added another layer of protection and stability for the Bayonne Medical Center property by securing long term, low-cost financing with Cross River Bank.  Hudson Regional's fiscal and financial strength was a key component in securing this low-cost loan, which did not require government support or guarantees.

"This financing assures that residents of Bayonne will have local access to an acute care facility," says Dr. Nizar Kifaieh, President and CEO of Hudson Regional Hospital. 

"When CarePoint announced that it was exiting the acute care market, the people of Bayonne were faced with an uncertain healthcare future," says Yan Moshe, Chairman of Hudson Regional Hospital which purchased the Bayonne Medical Center property in 2020 for $76 million.  "Our purchase of the Bayonne Medical Center property assured that there was a premier healthcare provider with a solid balance sheet ready to step in and operate the facility at a moment's notice." 

About Hudson Regional Hospital
Hudson Regional Hospital acquired its facility from Meadowlands Hospital in January 2018, with the mission to build a healthier community by providing exceptional care for all Hudson County residents through a significant investment in new technology including the Institute of Robotic Surgery featuring the Da Vinci XI Robotic System, ExcelsiusGPS and the Mazor Robotic Guidance System and access to more physician groups including some of the best physicians in the NYC-metro area.

Hudson Regional Hospital's ER team provides around-the-clock comprehensive emergency care services that include short wait times, EMS/Ambulance On-Site 24/7, a fully-equipped EMS Lounge, 24/7 Access to Specialty Physicians and a multi-lingual staff.

In 2020 Hudson Regional Hospital was designated the Hudson County COVID-19 Testing Site by the County Executive's office and became the first site in New Jersey to provide organized by-appointment only COVID testing for Hudson County residents and emergency workers.

SOURCE Hudson Regional Hospital