Friday, September 16, 2011

Mayor: 'Moody's expects hospital deal to get done - or else'

Office of the Mayor announces:


STATEMENT FROM MAYOR ZIMMER ON MOODY’S RATING UPDATE

 “The financial condition of Hoboken University Medical Center and Moody’s decision to issue a credit watch for $9 million of the $52 million bond guaranty by the City simply demonstrates how important it is to move forward with the sale of HUMC. The financial risks associated with the hospital, including the City’s $52 million bond guaranty, have negatively impacted the City’s credit rating. If the sale of the hospital to HUMC Holdco is completed, these risks will be removed, and we are confident that Hoboken will be in a strong position to not only have the credit watch removed, but to have the City’s bond rating upgraded.”

HMHA: Horizon BC/BS deal with Holdco is official!


HOBOKEN MUNICIPAL HOSPITAL AUTHORITY COMMENDS HUMC HOLDCO LLC FOR REACHING IN-NETWORK AGREEMENT WITH HORIZON BLUE CROSS BLUE SHIELD

-- Deal Goes into Effect Upon Completion of Transfer of Hoboken University Medical Center to Buyer; Great News for Patients --


HOBOKEN, NJ, September 16, 2011 -- Hoboken Municipal Hospital Authority (HMHA) is pleased that HUMC Holdco, LLC (Holdco), the buyer in the pending sale of Hoboken University Medical Center (HUMC), has announced an agreement with Horizon Blue Cross Blue Shield of New Jersey.  The transaction will allow HUMC to remain a participating provider in the Blue Cross Blue Shield network following Holdco’s acquisition of HUMC, which is expected to be completed later this month.

“It is great news for patients to have HUMC continue as an in-network provider with Horizon,” says HMHA Chairperson Toni Tomarazzo.  “This is one of the many issues for which HMHA has diligently advocated in the pending sale of HUMC to ensure the continuation of hospital services and maintain the long term viability of the hospital.  HMHA remains committed to finalizing the sale to Holdco.”

Beth Mason points finger, 'I'm not trying to close the hospital. Wheely.'

Here's the latest from Beth Mason's political team to counteract yesterday's statement from Council President Ravi Bhalla.  Note the new logo in her latest "run for mayor" once again.  That might be premature based on emerging problems being talked about around town.  MSV has anticipated and noted this earlier in Premium Content.

Does anyone believe a word of this from Beth Mason?  She's dealing again from the bottom of the deck here saying up is down, right is left and well, wrong is right.

Beth Mason has a slightly better chance of negotiating herself out of a little problem with the Boys of Summer in Newark than she does getting five votes for her "poison pill," as Council President Ravi Bhalla called it.

Fall weather has arrived but it's still Boys of Summer time.  Rock!