Meadowlands Hospital on track to be sold to Long Island real-estate developer

SECAUCUS–Meadowlands Hospital is set to be sold to a multimillionaire real-estate developer, according to a report on NorthJersey.com. Yan Moshe, based in Long Island, owns multiple surgery centers in Bergen County, per the report. He will only pay $5 million of the $12.2 million bid he placed for the hospital last year, provided the state approve the sale, the website added. At that time, he had filed an application with the state Department of Health, reportedly pledging $3 million in upgrades at the hospital.
If Moshe’s purchase receives approval, the hospital’s owners will lend him the remaining balance, the report said. He would also have to pay another $26 million for the hospital’s land, NorthJersey said.
Regulators have also reportedly questioned the deal, asking if Moshe has the assets to run Meadowlands, and even if the hospital serves a purpose. Four other hospitals are located within seven miles of Meadowlands.