CarePoint Health Transitions to Nonprofit Entity

On May 9, 2022

Jersey City-based CarePoint Health announced that a new community-based non-profit entity now owns a majority interest in CarePoint Health’s three safety hospitals; Christ Hospital, Hoboken University Medical Center, and Bayonne Medical Center.

The formation of the non-profit led by CarePoint CEO Achintya Moulick MD, MBA, was originally announced in October 2021 and its funding will allow CarePoint Health to maintain critical care for Hudson County’s underserved populations.

The donation of Vivek Garipalli’s majority interest in the three hospitals ensures community control of the healthcare system moving forward and continued access to Christ Hospital, now ranked as the No. 1 Most Socially Responsible Hospital in the US by the Lown Institute.

“We are all eternally grateful that CarePoint Health’s hospitals have been preserved through the years with an unwavering commitment to serve the community especially during the COVID pandemic where hundreds of thousands of residents received treatment and care,” said Dr. Achintya Moulick, CEO of CarePoint Health. “This transition will allow our teams to continue to provide advanced and equitable care to the diverse, minority populations across the Hudson County community. Through the number of partnerships and initiatives over the last two years, we have built an advanced healthcare system as a leader and innovator in medicine with much more to come.”

CarePoint Health employs over 3,000 people in Hudson County and continues to care for a population that is 80% African American and Hispanic with a high percentage of uninsured and Medicaid patients, especially at Christ Hospital and Hoboken University Medical Center where they make up approximately 60% of the current patient mix. The transition to non-profit control opens up a wide array of opportunities to support Hudson County’s underserved patients moving forward.

“The COVID-19 pandemic has only underscored the importance of equitable access to healthcare and I’m beyond proud that the three hospitals have been able to serve the community during the biggest healthcare challenge of our lifetime. So far, Dr. Achintya Moulick and his team have treated approximately 25,000 patients, vaccinated over 75,000 residents and tested nearly 90,000 people, and because of their efforts, were recently recognized and commended by the Hudson County Board of County Commissioners for their outstanding commitment to excellent healthcare and service to the community’s residents,” says Vivek Garipalli, co-founder of CarePoint Health. “I’m honored to be leaving the healthcare system in the hands of a physician leader and diverse management team greatly experienced in working with our minority patient population. While this donation is the official end to my ownership of CarePoint Health, I look forward to cheering from the sidelines as the newly formed non-profit continues to care for, sustain, and grow the hospital system to provide equitable care in Hudson County for many years to come.”

CarePoint Health has recently forged a number of critical partnerships and initiatives including with Rothman Orthopedic, Columbia Heart Source, opening an Innovation Center, and moving to be fully in-network.

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