The Hoboken University Medical Center may be under new management by the end of the week. New Jersey's Department of Health is expected to approve a sale that would transfer nearly $52 million in guaranteed bonds the city of Hoboken is currently holding.

The city is hoping to sell University Medical Center to HUMC Holdco, a medical development group which also has common ownership with the Bayonne Medical Center.

Hoboken's City Council began supporting the Hoboken University Medical Center in 2007 when the hospital was in danger of failing.

Hudson County Freeholder, Anthony Ramano, who represents Hoboken, says if the sale goes through he believes it can have a positive outcome. "We can all work together at all levels of government to make this work with the new owners and to give again the citizens of Hoboken and the surrounding area quality medical service and to continue its growth," said Ramano.

Hoboken Mayor Dawn Zimmer was quoted saying, "if the sale does not go through, the hospital will close."

A nurses union is among groups expressing concern about whether Holdco will maintain hospital staff and affordable healthcare.

Holdco says it is committed to keeping HUMC open as an acute care community hospital for at least seven years and to make needed investments in the hospital.