Following today's bankruptcy filing by Christ Hospital, Save Christ Hospital will hold a press conference to present ideas for the reorganization process. Community participation built Christ Hospital, and it can help rebuild Christ Hospital. Come and learn some of the facts about the bankruptcy and how you can help assure quality health care in our community.
WHEN: Tuesday, February 7, 2012 – 2pm
WHERE: Sidewalk outside Christ Hospital, 176 Palisade Avenue, Jersey City, NJ 07306
WHO: Save Christ Hospital, NJ Citizen Action, Health Professionals & Allied Employees
WHAT: Community members deliver call to Christ Hospital Board to work with, not exclude, the community in its reorganization plans
See our full Media Advisory for more details.
Monday, February 6, 2012
Bankruptcy filed
We have heard that Christ Hospital has filed for bankruptcy late this afternoon. Stay tuned for more information as it becomes available.
Thursday, February 2, 2012
HPAE on bankruptcy authorization
From Ann Twomey, president of Health Professionals and Allied Employees, re: Christ Hospital Board authorization of bankruptcy.
"While we hope that bankruptcy can be avoided - and could have been if the Board of Christ Hospital had allowed for an open and transparent bidding process - the bankruptcy court can provide a structure for a proper sale or reorganization that protects our community hospital. We hope that the Board of Trustees at Christ Hospital will work quickly to seek out financing and a buyer that meets the standards to preserve hospital services and staffing that have been set out by the community coalition."
"While we hope that bankruptcy can be avoided - and could have been if the Board of Christ Hospital had allowed for an open and transparent bidding process - the bankruptcy court can provide a structure for a proper sale or reorganization that protects our community hospital. We hope that the Board of Trustees at Christ Hospital will work quickly to seek out financing and a buyer that meets the standards to preserve hospital services and staffing that have been set out by the community coalition."
Breaking news - Hospital authorizes bankruptcy
PRESS RELEASE FROM CHRIST HOSPITAL
February 2, 2012
As a result of Prime Healthcare's withdrawal from the purchase asset agreement with Christ Hospital, a full hospital board meeting took place on Wednesday, February 1st.
At this meeting the Board of Trustees of Christ Hospital unanimously approved authorizing the filing Chapter 11 reorganization — if necessary — in order to maintain financial stability and to preserve its commitment to its patients.
A reorganization would ensure that Christ Hospital continues to serve the community as an acute care facility here in Hudson County.
The people of Hudson County should know Christ Hospital will continue to fulfill its mission as a community healthcare provider. Christ Hospital has been a central part of Hudson County for nearly 140 years. Although the hospital faces significant financial challenges moving forward, its doors remain open to care for its patients.
February 2, 2012
As a result of Prime Healthcare's withdrawal from the purchase asset agreement with Christ Hospital, a full hospital board meeting took place on Wednesday, February 1st.
At this meeting the Board of Trustees of Christ Hospital unanimously approved authorizing the filing Chapter 11 reorganization — if necessary — in order to maintain financial stability and to preserve its commitment to its patients.
A reorganization would ensure that Christ Hospital continues to serve the community as an acute care facility here in Hudson County.
The people of Hudson County should know Christ Hospital will continue to fulfill its mission as a community healthcare provider. Christ Hospital has been a central part of Hudson County for nearly 140 years. Although the hospital faces significant financial challenges moving forward, its doors remain open to care for its patients.
Wednesday, February 1, 2012
Breaking news - Prime withdraws offer
Prime Healthcare pulls out (The Jersey Journal, 2/1/12); Breaking: Prime Healthcare withdraws its bid (Hudson Reporter, 2/1/12); and Controversial Jersey City Hospital Sale Scuttled (WNYC, 2/1/12)
WNYC's Fred Mogul quotes Christ Hospital CEO saying that Christ Hospital has only "days worth of cash on hand," and that the Board is meeting this afternoon to consider their options.
Both Prime and the hospital attributed the deal's collapse to "highly vocal opposition from the community." In fact, the deal collapsed when the community stood up to ask for public scrutiny of the dubious proposal.
The Attorney General's office made it apparent that the state review would bring to light many questionable details. It is a shame that so much time and effort has been wasted on such a shoddy plan. Any deal will be better if the community has a meaningful voice in the process. And that should be the next step.
See our Press Release. "Prime Healthcare’s withdrawal of its offer to buy Christ Hospital is an opportunity to get a better deal for the hospital and the people of Hudson County."
WNYC's Fred Mogul quotes Christ Hospital CEO saying that Christ Hospital has only "days worth of cash on hand," and that the Board is meeting this afternoon to consider their options.
Both Prime and the hospital attributed the deal's collapse to "highly vocal opposition from the community." In fact, the deal collapsed when the community stood up to ask for public scrutiny of the dubious proposal.
The Attorney General's office made it apparent that the state review would bring to light many questionable details. It is a shame that so much time and effort has been wasted on such a shoddy plan. Any deal will be better if the community has a meaningful voice in the process. And that should be the next step.
See our Press Release. "Prime Healthcare’s withdrawal of its offer to buy Christ Hospital is an opportunity to get a better deal for the hospital and the people of Hudson County."
Thursday, January 26, 2012
Breaking news - JCMC makes offer for Christ Hosp
Jersey Journal: Jersey City Medical Center offers to buy nearby Christ Hospital for $104 million.
From the article:
The JCMC, which is partnering with Community Healthcare Associates in the bid, would keep Christ Hospital as a non-profit acute care facility for at least 30 years and maintain the existing unions, according to a statement released this morning.
"In a letter of intent that was delivered to Christ Hospital President and CEO Peter Kelly, we set forth our vision for the future of the facility and its critical role in providing healthcare services for Hudson County,'' JCMC President and CEO Joseph Scott writes in the statement. "The proposal lays out four tenets: to continue operating Christ as a non-profit acute care community hospital for a period of not less than 30 years; to preserve and create jobs while maintaining the existing unions; to continue to build a positive working relationship with the medical staff; and to expand Christ’s role as a healthcare leader and educator in Jersey City, Hudson County and New Jersey.''
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The LibertyHealth offer also includes bridge financing to ensure that Christ Hospital does not need to enter bankruptcy in order to reorganize.
This offer opens up the possibilities quite a bit. Save Christ Hospital has arranged meetings with both Bayonne/Hoboken Holdco and LibertyHealth to better understand their bids and advocate for Christ Hospital's historic mission of quality healthcare accessible to the whole community.
From the article:
The JCMC, which is partnering with Community Healthcare Associates in the bid, would keep Christ Hospital as a non-profit acute care facility for at least 30 years and maintain the existing unions, according to a statement released this morning.
"In a letter of intent that was delivered to Christ Hospital President and CEO Peter Kelly, we set forth our vision for the future of the facility and its critical role in providing healthcare services for Hudson County,'' JCMC President and CEO Joseph Scott writes in the statement. "The proposal lays out four tenets: to continue operating Christ as a non-profit acute care community hospital for a period of not less than 30 years; to preserve and create jobs while maintaining the existing unions; to continue to build a positive working relationship with the medical staff; and to expand Christ’s role as a healthcare leader and educator in Jersey City, Hudson County and New Jersey.''
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The LibertyHealth offer also includes bridge financing to ensure that Christ Hospital does not need to enter bankruptcy in order to reorganize.
This offer opens up the possibilities quite a bit. Save Christ Hospital has arranged meetings with both Bayonne/Hoboken Holdco and LibertyHealth to better understand their bids and advocate for Christ Hospital's historic mission of quality healthcare accessible to the whole community.
Tuesday, January 24, 2012
Save Christ Hospital forms Community Oversight Board
Jersey City, NJ, January 24, 2012 - Christ Hospital’s plan to abandon its charitable mission and sell the hospital to a for-profit corporation calls for substantial community involvement and oversight. Save Christ Hospital has drawn together 14 community organizations and formed a community board to represent ordinary residents of Hudson County in the plans to sell this important community asset.
139 years ago, the Episcopal Church founded Christ Hospital to serve the critical medical needs of the north Hudson community. The City of Jersey City, Hudson County, and the State of New Jersey have invested in that mission, providing direct financial support and forgiving taxes on the hospital’s real estate and business operations. As a not-for-profit institution, Christ Hospital’s duty has been to put its patients and its community first, and reinvest any surplus into its mission.
Save Christ Hospital calls for:
See the Hudson Reporter article, "Jersey City neighborhood associations form 'community oversight board' to monitor Christ Hospital sale."
139 years ago, the Episcopal Church founded Christ Hospital to serve the critical medical needs of the north Hudson community. The City of Jersey City, Hudson County, and the State of New Jersey have invested in that mission, providing direct financial support and forgiving taxes on the hospital’s real estate and business operations. As a not-for-profit institution, Christ Hospital’s duty has been to put its patients and its community first, and reinvest any surplus into its mission.
Save Christ Hospital calls for:
- An open, transparent review process with substantial and meaningful public participation;
- A community needs assessment to determine essential services that must be provided;
- A formal bid process that state government, local government, and the public can see prior to any sale; and
- That any sale fully meet the CHAPA standard of no negative impact on the public interest, and that the state impose strong conditions to ensure: - continued access to all existing healthcare services for at least 10 years,
- quality health care and health care outcomes,
- access to services for the uninsured,
- protection of existing staffing levels and workplace rights for employees, and
- the use and governance of this important non-profit community asset based on community need.
See the Hudson Reporter article, "Jersey City neighborhood associations form 'community oversight board' to monitor Christ Hospital sale."
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