( MENAFN - PR Newswire) Strategic Restructuring Focuses on Uninterrupted Service to Patients HUDSON COUNTY, N.J., Nov.
3, 2024 /PRNewswire/ -- CarePoint health Systems, Inc. ("CarePoint"), is a non-profit corporation that operates three hospitals in Hudson County. Today, CarePoint announced that it has taken steps to implement a financial restructuring designed to improve its capital structure and position the Company to deliver essential patient care well into the future.
To facilitate this process, CarePoint has filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.
S. Bankruptcy Court in Delaware. CarePoint has obtained $67 million in new financing to ensure that its hospitals remain open and that there will be no interruptions to its ability to provide patient care in the communities it serves throughout this process.
CarePoint Health Systems oversees the operations of three hospitals in Hudson County, New Jersey: Bayonne Medical Center, Christ Hospital in Jersey City, and Hoboken University Medical Center. Collectively, they provide services to over 60% of the population of the county and 65% of their patients are uninsured or underinsured. These proceedings will provide CarePoint with the flexibility and resources to continue operations and care for patients as it implements strategic initiatives to enhance efficiency and align the organization's operations.
Importantly, CarePoint remains committed to its employees and the high-qualit.
