CarePoint Health and Hudson Regional Hospital have signed a letter of intent to form a new healthcare system—Hudson Health.
The new system in New Jersey would include CarePoint’s Bayonne Medical Center, Christ Hospital in Jersey City, Hoboken University Medical Center and Hudson Regional Hospital in Secaucus.
Related article: Hospital merger activity to increase in 2024
Under the agreement, CarePoint's hospitals would continue to operate as nonprofits.
Christ Hospital and Hoboken University Medical Center would continue to serve as safety-net hospitals. All four locations would keep existing contracts with major insurance carriers.
Under the letter of intent announced Friday, Carepoint President and CEO Dr. Achintya Moulick would serve as president and CEO of the combined system. Yan Moshe, Hudson's regional chair, would serve as chairperson.
The deal requires the execution of a definitive agreement and regulatory approval.
Recently, CarePoint has been hit with multiple lawsuits from vendors who allege the health system owes them roughly $5 million, according a report from NJ.com.
