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.

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.

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