Pascack Valley Hospital

Infobox Hospital
Name = Pascack Valley Hospital
Org/Group =


Width = 117
Caption =
map_type =
latitude =
longitude =

Location =
Region = Westwood
State = New Jersey
Country = US
Coordinates = coord|40|59|6.75|N|74|0|54.95|W|display=inline,title
HealthCare = Medicare (US), Medicaid, Public
Type = Community
Speciality =
Standards =
Emergency = Yes
Affiliation = New York Medical College [ [http://web.archive.org/web/20070417032924/www.pvhospital.org/aboutaccreditations.asp PVH Accreditations and Affiliations] ]
Beds = 291
Founded = June 1, 1959
Closed = November 21, 2007
Website = http://www.pvhospital.org PVH
Wiki-Links = |

Pascack Valley Hospital (PVH) is a former 291 bed hospital, located at 250 Old Hook Road, Westwood, New Jersey.

History

Pascack Valley Hospital opened on June 1, 1959, as an 86-bed community hospital. It has undergone several expansions and grew to 291 beds. [ [http://web.archive.org/web/20070610140958/www.pvhospital.org/abouthome.asp PVH About our Hospital] ]

In 2005, the PVH completed construction on a new four-story addition to the hospital. This caused the hospital to incur an additional $80 million in debt. This, combined with several years of operating losses, forced Well Care Group, the owner of the hospital, to seek a buyer. In November 2006, Hackensack University Medical Center (HUMC) entered into a memorandum of understanding with PVH to acquire the hospital, with plans to keep the facility operating as a full acute-care hospital. [Citation
newspaper=The Record |publication-place=Bergen County, N.J. |url=http://www.redorbit.com/news/health/716789/humc_pascack_hospital_may_join__ailing_westwood_center_to/index.html|title=HUMC, Pascack Hospital May Join; Ailing Westwood Center to Stay Open|accessdate=2008-10-10] [Cite press release|title=Hackensack University Medical Center and Pascack Valley Hospital enter into memorandum of understanding for possible acquisition |url=http://www.humc.com/index.php?page=press&ev=520 |publisher=Hackensack University Medical Center |date=2006-11-09 |accessdate=2008-10-10]

Ultimately, Pascack's agreement with HUMC fell through, and on September 24, 2007, the hospital filed for Chapter 11 bankruptcy, with plans to liquidate the hospital's assets. In anticipation of closure, PVH began to limit its admissions. On November 21, the facility stopped providing medical care, and the administrative remaining departments closed shortly thereafter. [cite web |title=Pascack Valley Hospital to File for Bankruptcy, Plans to Liquidate |url=http://www.njbiz.com/article.asp?aID=71945 |date= 2007-09-21 |accessdate=2008-10-10] [ [http://www.pvhospital.org/ Important Information from Pascack Valley Hospital] ] [Citation
newspaper=The Record |publication-place=Bergen County, NJ |title=Suitors Ready Bids for Hospital |url=http://www.redorbit.com/news/health/1142656/suitors_ready_bids_for_hospital/index.html |date=2007-11-13 |accessdate=2008-10-10 ]

Liquidation of assets

Days before the hospital closed in November 2007, the certificate of need for the hospital's mobile intensive care unit (which had provided advanced life support services to 18 towns in the Pascack and Northern Valleys) was auctioned in U.S. Bankruptcy Court. Hackensack University Medical Center was the winning winning bidder at $3.6 million. [Citation |newspaper=The Paramus Post |publication-place=Paramus, NJ |title=HUMC to provide Paramedic Services in Pascack Valley Region |url=http://www.paramuspost.com/article.php/20071116104921844 |date=2007-11-16 |accessdate=2008-10-10] [Citation |newspaper=Pascack Valley Community Life |publication-place=Westwood, NJ |title=HUMC secures MICU |url=http://www.pvcommunitylife.com/NC/0/231.html |accessdate=2008-10-10] On November 21, as soon as PVH closed its doors, HUMC began providing paramedic services to the area. [Citation |newspaper=The Record |publication-place=Bergen County, NJ |title=Pascack Shuts Down Amid Tears, Toasts |url=http://www.redorbit.com/news/health/1155530/pascack_shuts_down_amid_tears_toasts/index.html |date=2007-11-23 |accessdate=2008-10-10 ]

After several delays, the hospital building and property were auctioned on February 27, 2008. Hackensack University Medical Center and Touro University College of Medicine won with a joint bid of $45 million. At the time, they had plans to reopen a full-service hospital and a new medical school. [Citation |newspaper=The Record |publication-place=Bergen County, NJ |title=Hospital, med school win Pascack Valley auction |url=http://www.northjersey.com/news/health/Med_center_school_win_Pascack_bid.html |date=2008-02-28 |accessdate=2008-10-10 ] But in September 2008, Touro backed out of the deal, deciding instead to open their medical school in Hasbrouck Heights. [Citation |newspaper=The Record |publication-place=Bergen County, NJ |title=Med school plans dropped |url=http://www.northjersey.com/news/Med_school_plans_dropped.html |date=2008-09-25 |accessdate=2008-10-10 ]

On October 1, 2008, HUMC opened up a satellite emergency department called Hackensack University Medical Center North at Pascack Valley. [Citation |newspaper=The Record |publication-place=Bergen County, NJ |title=ER returns to Westwood hospital |url=http://www.northjersey.com/news/Pascack_ER_reopens.html |date=2008-10-01 |accessdate=2008-10-10 ] HUMC, jointly with Legacy Hospital Partners, Inc., is currently seeking to obtain a license to open a 128-bed acute care facility at the PVH site. [cite web|url=http://www.marketwatch.com/news/story/hackensack-university-medical-center-files/story.aspx?guid={07590F3B-7AE3-4C0B-B9D5-7C52A7918EA0}&dist=hppr|title=Hackensack University Medical Center Files Application for Transfer of Ownership of Former Pascack Valley Hospital Licenses|accessdate=2008-09-07]

References

External links

* [http://www.pvhospital.org Pascack Valley Hospital homepage]