Hackensack, Meridian sign merger agreement: 6 things to know

After a seven-month period of “due-diligence,” the boards of New Jersey-based Meridian Health and Hackensack University Health Network have signed the agreement to merge the two systems and become Hackensack Meridian Health.

Advertisement

Here are six things to know:

1. The only factor still impeding the finalizing of the merger is state and federal regulatory clearance, is expected within the next nine to 12 months.

2. Hackensack Meridian Health will share a corporate board comprising an equal number of trustees from each system.

3. Robert C. Garrett and John K. Lloyd will be co-chief executive officers for the first two-and-a-half years, after which Mr. Garrett will become the sole CEO.

4. The combined entity will have 11 hospitals and two children’s hospitals.

5. Hackensack Meridian Health will also include a network of physician practices, ASCs, home care, long-term care and assisted living facilities, ambulance services, fitness and wellness centers and outpatient centers.

6. The combined systems will employ about 25,000 staff members and close to 6,000 physicians.

More articles on healthcare issues:
Who actually knows what a malpractice settlement consists of? 5 things to know
Saving on merchant services: 4 questions for ASCs to ask themselves
U.S. patient satisfaction plummets, index says: 4 things to know

At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.

Register to Attend Webinar

Is ambulatory care healthcare’s big margin engine? 4 leaders weigh in

Wednesday, July 29
1:00 PM - 2:00 PM CDT

Presenters: Joe Ganley, athenahealthJeffrey Flynn, CASC, Gramercy Surgery CenterBryan Tsao, Access Center, Loma Linda University HealthJason Zepeda, Northridge Hospital Medical Center, CommonSpirit HealthGreg DeConciliis, PA-C, CASC, Boston Out­Patient Surgical Suites

Advertisement

Next Up in ASC Transactions & Valuation Issues

Advertisement

Comments are closed.