HackensackUMC at Packsack Valley,250 Old Hook Road New Jersey, Westwood 07675
In November 2006, HackensackUMC entered into a memorandum of understanding with Pascack Valley Hospital (PVH), located in Westwood, New Jersey, to acquire the hospital from Well Care Group, Inc. In 2007, Pascack Valley Hospital filed for Chapter 11 bankruptcy, leading to the closure of the 291-bed hospital. After the closure, the site was placed for auction by order of the bankruptcy court judge administering the case. The Touro University College of Medicine, which had plans to open a medical school on the site, had sought to advance the planned March 2008 bidding so that it could meet a requirement for preliminary accreditation. The medical school planned to bid together with Hackensack University Medical Center. The other bidders were, in a joint offer, Ridgewood's Valley Hospital and Englewood Hospital and Medical Center in which urgent care would be offered, but no overnight beds would be maintained. Paradigm Physician Partners planned to reopen the facility as a community hospital with 100 to 150 beds. In a fevered auction at the Newark, New Jersey, courtroom, the HackensackUMC–Touro Medical School joint bid of $45 million won the bidding, beating the Valley Hospital–Englewood Hospital effort in 23 rounds of bids; Paradigm Physician Partners and another prospective participant were disqualified from participation.