New Jersey State Department of Health is considering an application an ASC owner filed to purchase Secaucus, N.J.-based Meadowlands Hospital and Medical Center, according to NJ Spotlight.
Here are five key points:
1. Yan Moshe filed the application 15 months ago. Mr. Moshe is the owner of Hackensack, N.J.-based Excel Surgery Center.
2. Meadowlands Hospital and Medical Center, a 204-bed hospital, owners said they plan to sell the hospital for $12.2 million in April 2017.
3. In his application, Mr. Moshe said he anticipates the hospital to treat 5,400 patients annually, of which 40 percent will entail same-day procedures. In 2018, he expects the hospital to generate net operating revenues of almost $80 million, an increase from $77.6 million in 2017.
4. Mr. Moshe, who did not provide a comment to NJ Spotlight at this time, said he plans to invest at least $3 million to update the facility and add new equipment over a five-year span, but does not have any additional plans at this time.
5. The New Jersey State Health Planning Board is set to review the application and will hold a public hearing Oct. 19. Through the hearing, the board aims to fully gauge how the sale would impact the community.