Board Still Negotiating Hospital Sale; May End Exclusivity With Bidder

Deal or No Deal?

The Hoboken Municipal Hospital Authority can't answer yet.

At Wednesday night's special meeting, the authority will go into closed session to talk about the exclusive negotiations with HUMC Holdco LLC, the final bidder to buy the Hoboken University Medical Center. If there's no agreement reached during a special meeting on Wednesday night, Authority Chairwoman Toni Tomarazzo said on Wednesday morning, the authority may decide to end exclusivity with HUMC Holdco.

Most of the meeting will be closed to the public. In the case that an agreement will be reached, Tomarazzo said, the contract will be introduced and voted on during a meeting on April 11.

No agreement had been reached as of 11 a.m. on Wednesday, Tomarazzo said.

"This evening the authority is going to consider whether we need to end exclusivity," she said. "It's my hope that by tonight's meeting we will have reached agreement with the bidder."

But, Tomarazzo added, "at some point if you can't reach an agreement, you have to move on."

The other bidders have not been made public. who wants to buy the hospital has recently made its interests public.

The Authority has also met criticism for not being open enough about the bidding process, causing non-profit

The Hoboken Municipal Hospital Authority will meet at 6 p.m. in the Assumption Hall of the Hoboken University Medical Center.