Report: Multi-millionaire putting up $5M to buy Meadowlands Hospital

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A multi-millionaire real estate developer has agreed to pay $5 million up front to buy the Meadowlands Hospital Medical Center in Secaucus, The Record reports.

Photo via ratehospitals.com
Photo via ratehospitals.com

By John Heinis/Hudson County View

Yan Moshe, the owner of the Excel Surgery Center in Hackensack, will have an additional $7.2 million loaned to him from the current hospital owners and will spend an additional $26 million for the hospital land, according to the report.

The Record also wrote that Moshe could have his work cut out for him as the Meadowlands Hospital currently averages less than 30 patients a day and the Excel Surgery Center has been cited several time for safety hazards.

The deal is yet to be finalized as state regulators have questioned the need for the hospital, whether or not Moshe has the resources to run the hospital and the issue of overdue financial data – which is costing the facility $21,000 a month in fines – the report said.