Meridian Health and Raritan Bay Medical Center have announced the signing of a Letter of Intent (LOI) between the organizations to explore a merger.
“We are very excited about this opportunity with Raritan Bay Medical Center,” says John K. Lloyd, FACHE, president of Meridian Health. “While Meridian Health serves primarily Monmouth and Ocean counties and parts of Middlesex County, Raritan Bay services Middlesex County and parts of Northern Monmouth County. Our neighboring geography will allow us to give residents in those areas more choices for accessing care and tertiary services.”
Both not-for-profit organizations are locally based and have developed critical hospital and non-hospital services, including outpatient facilities, which both boards agree would create greater community access to physicians and quality health services.
“From our charitable missions and Magnet recognized nurses, to our commitment to services in cardiovascular, stroke, cancer, and orthopedics, our health systems share similar interests and cultures,” says Michael D’Agnes, president and CEO of Raritan Bay Medical Center. “We are optimistic about the good things that could happen for our communities from this proposed partnership.”
D’Agnes added that the two organizations already participate in a group purchasing organization together and have partnered on services in the past like Raritan Bay’s cardiac catheterization laboratory.
Over the next several months, Meridian Health and Raritan Bay Medical Center will enter into a due diligence period to thoroughly examine financial, clinical, and legal issues. The process is expected to take approximately four months and would be followed by a definitive agreement and regulatory review.
“This is a challenging time for health care organizations,” says Lloyd. “Forward-thinking organizations are always looking for partners who want to enhance patient care and experience and improve the health of our communities all while achieving needed efficiencies. We see that fit with Raritan Bay.”Related Articles: