SECAUCUS — Acting State Health Commissioner Christopher Rinn has approved the sale of Meadowlands Hospital to Long Island developer Yan Moshe, according to a letter sent to the hospital’s acting CFO Friday.
In his letter, Rinn says he “evaluated” Moshe’s application and believes it is consistent with state standards.
Rinn’s approval clears the final hurdle for transferring hospital ownership from MHA, LLC to NJMHMC. Moshe is principal owner of NJMHMC. Moshe said he plans on keeping the same number of services the hospital has currently, and improving on them in the future.
Rinn also said in the letter that Moshe’s application “expresses its commitment to the continuity of services in Hudson County.” He noted that at a November meeting with the state health planning board, Moshe said that “the hospital has been a greatly underutilized asset and there’s much more that can be done to enable it to achieve its full potential.”
At that same meeting, according to Rinn’s letter, Secaucus Town Administrator Gary Jeffas, on the town’s behalf, spoke positively of the application to purchase the hospital.
At a public hearing regarding the sale in October, 12 of 13 people who spoke favored the application, helping sway Rinn’s decision, according to the letter.
According to Rinn’s letter, Moshe will put up $5 million for the hospital’s $12.2 million purchase price. The remaining $7.2 million will come via loan.
