Saint Peter's Healthcare System of New Brunswick, New Jersey, and Atlantic Health System of Morristown, New Jersey, are in negotiations to enter a strategic partnership. This is Saint Peter's campus.
Saint Peter's Healthcare System of New Brunswick, New Jersey, and Atlantic Health System of Morristown, New Jersey, have signed a letter of intent to enter into a strategic partnership.
The two organizations say they hope to reach a definitive agreement for full integration of Saint Peter's into Atlantic Health. The completion of the deal could take up to 18 months, according to a Saint Peter's representative.
Sponsored by the Diocese of Metuchen, New Jersey, the not-for-profit Saint Peter's includes the 478-bed teaching hospital Saint Peter's University Hospital as well as a children's hospital, perinatal center, foundation and a network of primary and specialty care facilities. The not-for-profit Atlantic Health is a network of more than 550 facilities, including seven hospitals in northern New Jersey.
Under the proposed transaction, Saint Peter's would become part of Atlantic Health. Saint Peter's would remain a Catholic facility, and it would continue to abide by the Ethical and Religious Directives for Catholic Health Care Services.
According to a joint press release, Atlantic Health would make "significant investments in Saint Peter's and the service area." The Saint Peter's representative, Senior Director of Marketing Michelle Lazzarotti, said the organizations cannot quantify the investment amount at this time.
The release said the deal under negotiation is focused on ensuring the organizations provide high-quality, cost-effective services to their communities. Atlantic and Saint Peter's are committed to creating healthier communities by removing barriers to access and addressing social determinants of health, said the release.
The integration would expand their existing relationship in the Healthcare Transformation Consortium, a coalition of New Jersey health care providers seeking to provide broader and more affordable health insurance to New Jersey workers.
Atlantic and Saint Peter's integration will require the approval of state and federal officials and the Catholic Church.