The Boards of Virtua Health and Maxis Health System, an entity of Trinity Health, have signed a definitive agreement to move forward with the acquisition by Virtua of the Lourdes Health System, including Our Lady of Lourdes Medical Center, Camden, Lourdes Medical Center of Burlington County, Lourdes Medical Associates and Lourdes Cardiology Services. The agreement was reached after a non-binding letter of intent and subsequent due diligence period.
“As representatives of the community, we are constantly thinking about how Virtua can improve the health status of the people of South Jersey,” says David Kindlick, chairman of the Virtua Board of Trustees. “Virtua and Lourdes offer complementary services. Bringing our organizations together creates a more fully integrated network offering greater access and care options for our patients. It just makes good sense.”
“The combination of Virtua and Lourdes is a great story waiting to be told,” says Dennis Pullin, president and CEO of Virtua. “Each organization has enjoyed a rich history. Together we recognize synergies not only around care delivery, but also around quality, culture, talent, and community engagement.” Pullin cited shared experience in developing strong community outreach programs for vulnerable populations as well as deep commitments to continuing education of physicians, nurses, care providers and health professionals.
The combined organization will offer tertiary and community care through a robust clinically integrated network. An additional driver of the acquisition will be to leverage the expanded Virtua footprint to create scale and shared infrastructure, resulting in increased access and improved efficiencies in the future.
“At Lourdes, we are thrilled to be joining with Virtua. Their passion and visionary approach to care is completely aligned with the Lourdes Health System, and we are looking forward to a bright future ahead,” says Reginald Blaber, M.D., president of Lourdes Health System.
“When finalized, our new organization will represent enhanced care for the benefit of the South Jersey community. The potential impact and benefits are limitless,” adds Pullin.
Virtua leadership anticipates closing to coincide with state, federal and regulatory approval.
To access more business news, visit njbmagazine.comRelated Articles: