Bon Secours Health System initiated the steps to close 266-bed St. Mary Hospital, Hoboken, N.J., "as a last resort" after the hospital lost $27 million on operations in fiscal 2005, officials said. St. Mary's monthly losses for the first quarter of the fiscal year that began Sept. 1, 2005, ranged from $2 million to $3 million, with an annualized loss rate of $35 million. The system said it is actively looking to provide alternate health services at the site and intends to operate the hospital until "a viable alternative is found" or until the certificate-of-need application to close acute-care services is approved. The CON process could take as long as 12 months, officials said. Utilization at St. Mary has declined to 38% in recent years, with the biggest decline in medical-surgical services. In a restructuring effort announced in June, Bon Secours said it would divest hospitals in Florida, New Jersey and Virginia, and earlier this year, the system explored transferring St. Mary to the University of Medicine and Dentistry of New Jersey. -- by Cinda Becker
Bon Secours begins process to close N.J. hospital
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