N.J.’s Buttonwood Hospital nets $15 million in auction

    Though still pending approval from freeholders, Burlington County’s Buttonwood Hospital netted $15 million at today’s auction.

    The nursing home and psychiatric facility was put up for auction following funding woes that forced the county-run facility to privatize. An Inquirer report says winning bidder Ocean Healthcare Operating Partners plans to retain the patients and most employees.
    Eighty-five percent of Buttonwood’s patients are covered by Medicaid, and the facility has been operating at a loss for years.

    Health & Science reporter Carolyn Beeler will has the full story on the way.

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