NJ State Health Planning Board approves Meadowlands Hospital sale

SECAUCUS – The New Jersey State Health Planning Board recently approved the $12.2 million Meadowlands Hospital sale to developer Yan Moshe, who owns two surgery centers in New Jersey. The sale would transfer ownership from MHA, LLC to NJMHMC, owned by Moshe.
“Department staff reviewed the Applicant’s Certificate of Need application and determined that the Applicant’s rationale to transfer the ownership of MHMC is a realistic assessment of the Secaucus service area and the health care services environment for Hudson County,” the board wrote in its decision.
The board added that Moshe “is committed to operate MHMC at the same bed and service capacity levels while maintaining all of the hospital’s current employees and the same contract agreements that are currently in place. The proposed transfer appears to be a feasible option for ensuring that MHMC continues to provide health care services to the community and to maintain its financial viability.”
As part of the agreement, Moshe will invest in programs designed to better public health, community health services, and health and wellness. The board will also require a written financial sustainability plan within twelve months of licensing.
Once annually for five years from the date he receives a license, Moshe also must report his progress on implementing his initiatives.
These include negotiations with health insurers on new contracts to get better access for patents, efforts to fill service gaps with new physicians, and efforts to work with local community leaders, and surrounding hospitals to identify health care needs.
The state Department of Health’s commissioner now has up to 120 days to make a final decision on the sale.