Health
Troubled New Jersey Hospitals Tap Insight to Rescue Finances
- CarePoint lost over $104 million in first nine months of 2023
- Michigan-based Insight had rescued a bankrupt Chicago hospital
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A Michigan company that rescued a bankrupt Chicago hospital has stepped in to run operations at CarePoint Health, the long-troubled system across the river from Manhattan.
Insight, based in Flint, Michigan, is working with current management to financially stabilize CarePoint’s three hospitals. CarePoint operates the 261-bed Bayonne Medical Center, along with Hoboken University Medical Center and Christ Hospital in Jersey City, each with about 350 beds. Insight eventually plans to rebrand them under its banner, said one person familiar with the situation, who declined to be identified because the process isn’t public.