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NJBIZ NAMES BAYONNE MEDICAL CENTER "BUSINESS OF THE YEAR" FOR ITS COMMITMENT TO EXCELLENCE, GROWTH AND THE COMMUNITY

BAYONNE, NJ - DECEMBER 4, 2008 - NJBIZ Business Magazine has named Bayonne Medical Center as a winner in its "Businesses With 101+ Employees" category at its annual Business of the Year Awards ceremony attended by approximately 300 business leaders Wednesday, December 3, at The Palace at Somerset Park, Somerset.

The annual ceremony caps a year-long effort by NJBIZ to identify and acknowledge the state's most dynamic businesses and business leaders who share a commitment to professional excellence, business growth and the community.

The award was accepted on behalf of all Bayonne Medical Center by its President and CEO, Daniel Kane. "We are very grateful that the steps we've taken to make Bayonne Medical Center into a financially stable, high-quality community hospital have been recognized by our peers in the business community," said Kane.

"The recognition is especially gratifying as it comes less than a year after the new owners assumed responsibility for the hospital's future and embarked on an aggressive program of upgrading services, equipment and accessibility."

Kane was joined in accepting the award by the medical center's owners - Vivek Garipalli, Jeffrey Mandler and James Lawler - and senior management staff.

NJBIZ cites companies in a variety of categories, including Businesses with 51 to 100 Employees; Businesses with 101+ Employees; Corporate Citizen of the Year; Emerging Business of the Year; Executive of the Year" and others. Also cited as Business of the Year in the 101+ category were CH2M HILL; Global eProcure, Inc.; Stonybrook Day Camp; and Vedicsoft Solutions, Inc. Finalists in each category were selected by an independent panel of judges assembled by NJBIZ.

Bayonne Medical Center is an acute care, community hospital that provides a range of services to the residents of Bayonne, Jersey City and surrounding communities, including Emergency Department services; Interventional Cardiology services; Oncology; Radiology; Vascular Care; Wound Care; Bariatric Surgery and other services.

The new Bayonne Medical Center began operations on February 1, 2008. The predecessor hospital entered bankruptcy in April of 2007 and came close to shutting its doors due to cash losses of between $1.5 million to $2 million a month. The investor team of Garipalli, Mandler and Lawler saw the potential for a turn-around of Bayonne Medical Center and had a vision of a financially successful hospital that could continue to serve the community for many years to come.

"We truly appreciate the recognition on behalf of the Bayonne Medical Center family," Kane said. "And we continue to focus on our primary mission, which is to provide for the health care needs of Bayonne and its neighboring communities."