Reports: Former Hospital CEO Got $600K Severance Pay

Former Hoboken University Medical Center CEO Spiros Hatiras received $600,000 in compensation and full medical benefits for a year, according to the Newark Star Ledger.

The newspaper reported it found out the number through an Open Public Records Act request.

in July, just weeks before the hospital's management company, Hudson Healthcare Inc.,

The hospital has and some of its largest debs are millions of dollars.

"The package was negotiated by Hudson Healthcare Inc., the current operator of the hospital that filed for bankruptcy protection, and was approved by the Hoboken Municipal Hospital Authority," according to the Star Ledger article. According to the same story, Hatiras was earning $400,000 annually.

According to the Ledger, "Hatiras will be paid in installments, records show, with $120,000 up front and $15,000 a month until a balloon payment of $390,000 no later than Jan. 1, 2012."

When asked about the number on Monday afternoon, Spokesman for the HMHA Doug Petkus said he couldn't comment on the matter.