New Jersey Gov. Chris Christie said the state would commit $5 million to help close the sale of the foundering Hoboken (N.J.) University Medical Center.
State steps in to rescue Hoboken hospital sale
The municipal hospital's management company entered bankruptcy in August. The governor's announcement came after the Hoboken City Council refused to pledge $5 million “effectively forcing the state's oldest hospital to close within the next few weeks and risking municipal authority default in Hoboken,” a written statement from the governor's office said.
Sale of the Hoboken University Medical Center to the company that owns the Bayonne (N.J.) Medical Center is pending before a bankruptcy judge. Toni Tomarazzo, the chairwoman of Hoboken Municipal Hospital Authority, said the $5 million would be used toward finalizing the sale.
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