CHA Partner owned the former Memorial Hospital of Salem County from 2019 through 2022. It didn't go well.
CHA Partner owned the former Memorial Hospital of Salem County from 2019 through 2022. It didn't go well.
But big losses, caused partially by the onset of COVID-19 a year after CHA’s purchase, continued at Salem Medical Center. Meanwhile, CHA, led by an executive named William J. Colgan, and related for-profit entities collected in millions in management fees and rent. On the surface it looks like CHA lost money on the deal, but that doesn’t count the $18.4 million in management, rent, and other payments the hospital made to CHA and other related for-profit entities from 2019 through 2022, according to the tax returns for Salem County Hospital Corp., the official nonprofit owner of the hospital.Another management entity, Salem Hospital Management LLC, was paid a total of $2.6 million during CHA’s four years of ownership.
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