Newark, N.J.-based University Hospital, the only public hospital in the state, has reported $157.1 million in operating losses for the fiscal year ending March 31, adding to the $152.1 million loss in the same period ending March 31, 2022.
The news comes as the aging hospital, the principal teaching hospital of Rutgers New Jersey Medical School, requires a $1.8 billion overhaul even if administrators don’t know where the necessary funds are coming from, Becker’s reports.
“Now, how do we pay for it?” President and CEO Ed Jimenez told nj.com in February after revelations of plans for such an overhaul, including $20 million in annual repairs. Read more.
