Spiros Hatiras, the former CEO of Hoboken (N.J.) University Medical Center who stepped down July 16, received a severance package of $600,000 in compensation and full medical benefits for a year three weeks before the hospital filed for bankruptcy, according to a Star-Ledger report.
The severance agreement and bankruptcy filing come amidst Hudson Healthcare, operator of HUMC, trying to sell the hospital to HUMC Holdco.
According to the report, Mr. Hatiras' severance package also comes at a time when Hudson Healthcare said it could not cover its $1.9 million city-related bills or the $1.45 million in employee pension and health funds. A spokesperson for the Hoboken Municipal Hospital Authority, a group that helped approved the severance packages, said officials could not comment on the issue.
Read The Star-Ledger report on Spiros Hatiras.
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The severance agreement and bankruptcy filing come amidst Hudson Healthcare, operator of HUMC, trying to sell the hospital to HUMC Holdco.
According to the report, Mr. Hatiras' severance package also comes at a time when Hudson Healthcare said it could not cover its $1.9 million city-related bills or the $1.45 million in employee pension and health funds. A spokesperson for the Hoboken Municipal Hospital Authority, a group that helped approved the severance packages, said officials could not comment on the issue.
Read The Star-Ledger report on Spiros Hatiras.
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