Barnabas Health hopes to buy bankrupt competitor hospital

The largest hospital chain in New Jersey intends to submit a bid to buy one of its competitors, which filed for bankruptcy last week.

Barnabas Health hopes to buy bankrupt competitor hospital

Barnabas Health hopes to buy bankrupt competitor hospital

TRENTON - The largest hospital chain in New Jersey intends to submit a bid to buy one of its competitors, which filed for bankruptcy last week.

NJ.com reports Barnabas Health hopes to purchase Saint Michael's Medical Center of Newark, which currently has an asking price of $49.1 million.

An Aug. 10 bankruptcy filing was intended to spur Gov. Chris Christie's administration to rule on whether Prime Healthcare Services of California would be granted permission to buy the struggling hospital.

An attorney representing Barnabas Health sent a letter to bankruptcy court Tuesday identifying the chain as "a possible bidder and party in interest."

A St. Michael's spokesman said Prime has signed an asset purchase agreement and has been committed to making the deal while awaiting state approval for over two years.

advertisement | advertise on News 12

Trending Video

1 VIDEO: Pro-President Donald Trump rally held in Middletown
Supporters of President Donald Trump held a rally 2 Rally in support of President Trump held in Middletown
Suez Water on scene of water main break 3 Suez Water on scene of water main break in Hoboken
Supporters of President Donald Trump gather in Wayne 4 2 pro-President Trump rallies held in New Jersey
Khalil Wheeler-Weaver (pictured) is accused of killing three 5 Man charged in murder of 2 missing women accused of killing 3rd

advertisement | advertise on News 12

Features

It's good to know you have Walt Kane Kane in Your Corner

It's good to know you have Walt Kane in your corner.

News 12 takes a look at the hottest Tech Check

Eric Landskroner has a look at the latest gadgets and biggest stories in tech.

News 12 On the Scene

Check out these exclusive videos from New Jersey celebs!

Sorry to interrupt...

Your first 5 are free

Access to News12 is free for Optimum, Comcast®, Time Warner® and Service Electric℠ video customers.

Please enjoy 5 complimentary views to articles, photos, and videos during the next 30 days.

LOGIN SUBSCRIBE