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Two of New Jersey's largest health networks are one step closer to merging. Saint Peter's Healthcare System and Atlantic Health System announced a letter of intent to create a strategic partnership which could lead towards a definitive merger agreement in the coming months to integrate the two organizations.
As part of the deal, Atlantic Health System would substantially invest in Saint Peter's facilities, continuing their evolution as a comprehensive, resourceful, and high-quality healthcare system serving communities across central New Jersey.
The envisioned collaboration would create substantial synergies between the two organizations, including transitioning Saint Peter's onto Atlantic Health System’s electronic medical record system. Saint Peter’s would persist in its Catholic mission and adhere to the Ethical and Religious Directives for Catholic Health Care Services.
Both organizations, having been in discussions for some time, share a patient-centric perspective focused on delivering cost-effective, high-quality services to their communities, in line with their respective missions. This new venture would expand on the systems’ existing relationship in the Healthcare Transformation Consortium, designed to offer broader and more affordable health insurance to New Jersey employees.
In the coming months, both organizations will engage in due diligence, working towards a definitive agreement that will outline the specifics of their future relationship. Approvals from state and federal officials, as well as from the Catholic Church, will be required before the transaction can be finalized.
Saint Peter’s Healthcare System, sponsored by the Roman Catholic Diocese of Metuchen, comprises Saint Peter’s University Hospital, a 478-bed acute-care teaching hospital and state-designated children’s hospital and regional perinatal center, among other facilities.
Atlantic Health System is a leader in medicine, setting standards for quality healthcare in New Jersey, Pennsylvania, and the New York metropolitan area. It serves more than half of the state of New Jersey, with its workforce of 20,000 team members and 5,440 affiliated physicians.