BMC Hospital LLC, one of two entities vying to take over the Bayonne Medical Center from CarePoint Health, has acquired 9.9 percent ownership of the facility and is seeking an additional 39.1 percent.
“With this interim and significant investment in the hospital, BMCH advances closer to its goal of taking over full ownership of the operations of Bayonne hospital,” BMCH President Wayne Hatami said in a statement.
“This is the commitment we made to the community, which has been championed by the city’s administration, to ensure continued access to the highest quality of care for the citizens of this great city.”
The notice filed on October 30th does not require approval from the New Jersey Department of Health since regulations allow transfer of ownership under 10 percent to proceed without department approval.
Last month, Assemblyman Nick Chiaravalloti (D-31) and state Senator Joseph Vitale (D-19) appealed to the NJ DOH to oversee any real estate actions with the hospital, though as has been the case with requests from other officials previously, that does not appear to have moved the needle.
A second application was filed for an additional transfer of 39.1 percent that would make BMCH a 49 percent minority owner of operations at Bayonne Hospital. This application would require DOH approval due to the size of ownership interest.
The initial two step transfer process would infuse nearly $5 million of capital to invest in hospital infrastructure improvements and provide needed cash flow as the hospital readies for an influx of patients during the second wave of COVID-19, Hatami noted.
BMCH and Hudson Regional Hospital are fighting over who be the next operator of the Peninsula City health care provider, though even if the NJ DOH approves BMC’s application, that may not be enough to change things in the long term.
HRH have previously said that they have purchased the land the BMC and Hoboken University Medical Center sits on for $220 million, though BMCH has questioned the legitimacy of that claim since they only provided a loan to the purchaser – a seemingly related LLC.