A bankruptcy judge yesterday approved a for-profit hospital chain's $62.2 million bid to buy Saint Michael's Medical Center in Newark, N.J., although the hospital's future remains in the hands of Gov. Christie’s administration, NJ.com reported today. Prime Healthcare Services of Ontario, Calif. announced plans to acquire the 148-year-old facility three years ago, but the state Attorney General's Office and the Department of Health have not yet completed their review of the application to determine if is in the public's best interest. Frustrated by the long wait, Saint Michael's executives filed for bankruptcy in August to protect the cash-starved hospital from having to make its monthly $1.8 million payment to the New Jersey Healthcare Facilities Financing Authority. The hospital owes the state $228 million in bonds.
