Hackensack Meridian Health commits $400 million investment in Englewood Health
ENGLEWOOD and EDISON, N.J., Oct. 15, 2019 /PRNewswire/ -- Today the Boards of Trustees of Englewood Health and Hackensack Meridian Health announced they have signed a definitive agreement to merge. This strategic move allows for new and more robust collaborations between the two not-for-profit systems that extend well beyond an existing clinical and academic affiliation, forged in 2015.
"Englewood Health and Hackensack Meridian Health share a common mission and commitment to quality," said Robert C. Garrett, CEO of Hackensack Meridian Health. "We are thrilled Englewood wants to be part of Hackensack Meridian Health. We believe they will be a great addition to our network. We will continue to improve the well-being of communities with more cost-effective care that delivers quality, safe outcomes, clinical excellence and a superior experience."
"As a healthcare system, we need to continuously evolve in order to provide our community with increased access to high-quality care and more specialties and services, close to home," said Warren Geller, president and CEO of Englewood Health. "This decision is about building the most efficient, most effective health system possible to benefit the communities we serve."
"Over the past decade there have been significant investments in our facilities and technology from which our patients are benefiting, and we intend to invest in further advancements," Geller said. "Joining Hackensack Meridian Health will ensure our ability to deliver world-class care to the communities we serve in a broader way, with greater resources and more cutting-edge technologies available to us."
An expanded affiliation with Hackensack Meridian's medical school will enable Englewood to become a tertiary academic hub in the region. In addition, Englewood Health will benefit by Hackensack Meridian Health's partnerships with other institutions, such as Memorial Sloan Kettering Cancer Center and Carrier Clinic, New Jersey's largest behavioral health provider.
Following regulatory approval of the merger, Hackensack Meridian Health has committed to a $400 million capital investment at Englewood Health. This investment would further position Englewood Health as a tertiary hub in northern New Jersey with a focus on cardiovascular care, neurosciences, oncology, robotic surgery, women's health and neonatal intensive care, stroke care, thoracic surgery and an ambulatory care network throughout the region.
"We welcome Englewood Health with open arms," said Gordon Litwin, Esq., chair of the Hackensack Meridian Health Board of Trustees. "This is an exciting time for health care in New Jersey and beyond. Hackensack Meridian Health is leading the way in advancing the delivery of health care through groundbreaking partnerships and innovation – truly redesigning how care is delivered. We look forward to taking the next steps to make this merger a reality."
"Englewood Health has deep roots in our community, having been here for more than a century, and we will continue to do everything possible to better serve our community," said Thomas C. Senter, Esq., chairman of the Board of Trustees at Englewood Health. "Joining Hackensack Meridian Health will help us to continue to build greater access to care in our region and throughout New Jersey."
The signed deal follows an extensive review of clinical, regulatory, service, and financial issues by the two systems and will undergo regulatory review by the state's Office of the Attorney General, New Jersey Department of Health, and the Federal Trade Commission before being finalized.
About Hackensack Meridian Health
Hackensack Meridian Health is a leading not-for-profit health care organization that is the largest, most comprehensive and truly integrated health care network in New Jersey, offering a complete range of medical services, innovative research and life-enhancing care.
Hackensack Meridian Health comprises 17 hospitals from Bergen to Ocean counties, which includes three academic medical centers – Hackensack University Medical Center in Hackensack, Jersey Shore University Medical Center in Neptune, JFK Medical Center in Edison; two children's hospitals - Joseph M. Sanzari Children's Hospital in Hackensack, K. Hovnanian Children's Hospital in Neptune; nine community hospitals - Ocean Medical Center in Brick, Riverview Medical Center in Red Bank, Mountainside Medical Center in Montclair, Palisades Medical Center in North Bergen, Raritan Bay Medical Center in Perth Amboy, Southern Ocean Medical Center in Manahawkin, Bayshore Medical Center in Holmdel, Raritan Bay Medical Center in Old Bridge, and Pascack Valley Medical Center in Westwood; and two rehabilitation hospitals - JFK Johnson Rehabilitation Institute in Edison and Shore Rehabilitation Institute in Brick; and a behavioral health hospital, Carrier Clinic in Belle Mead.
Additionally, the network has more than 500 patient care locations throughout the state which include ambulatory care centers, surgery centers, home health services, long-term care and assisted living communities, ambulance services, lifesaving air medical transportation, fitness and wellness centers, rehabilitation centers, urgent care centers and physician practice locations. Hackensack Meridian Health has 35,000 team members, and 7,000 physicians and is a distinguished leader in health care philanthropy, committed to the health and well-being of the communities it serves.
The network's notable distinctions include having four hospitals ranked by U.S. News and World Report. Other honors include consistently achieving Magnet recognition for nursing excellence from the American Nurses Credentialing Center and Top 150 Places to Work in Healthcare/2019 by Becker's Healthcare.
Hackensack Meridian Health partnered with Seton Hall University to launch the only private medical school in New Jersey – Hackensack Meridian School of Medicine at Seton Hall University. Additionally, the network partnered with Memorial Sloan Kettering Cancer to find more cures for cancer faster while ensuring that patients have access to the highest quality, most individualized cancer care when and where they need it.
Hackensack Meridian Health is a member of AllSpire Health Partners, an interstate consortium of leading health systems, to focus on the sharing of best practices in clinical care and achieving efficiencies. For additional information, please visit www.HackensackMeridianHealth.org.
About Englewood Health
Englewood Health is one of New Jersey's leading hospitals and healthcare networks. Composed of Englewood Hospital, the Englewood Health Physician Network, and the Englewood Health Foundation, the health system delivers nationally recognized care in a community setting to residents of northern New Jersey and beyond. The hospital, founded in 1890, consistently earns high marks for clinical excellence and patient safety. It is among the top 10% of hospitals in the nation to earn the 2019 Healthgrades Patient Safety Excellence Award. The hospital is also nationally recognized for nursing excellence, earning a fourth consecutive designation by the Magnet Recognition Program® in 2016. Areas of clinical excellence include cardiac surgery and cardiac care, cancer care, orthopedic surgery, spine surgery, vascular surgery, and women's health, as well as bloodless medicine and surgery. Englewood Health is an affiliate of Hackensack Meridian Health. The hospital offers an internal medicine residency program affiliated with Hackensack Meridian School of Medicine at Seton Hall University, as well as a vascular surgery fellowship, pharmacy residency program, and a radiography training program. Englewood also serves as a training site for surgery, pathology, emergency medicine, anesthesiology, critical care medicine, and other medical and surgical subspecialties. Englewood Health is continually expanding services and enhancing access through the Englewood Health Physician Network, a coordinated network of office-based and hospital-based providers at more than 100 locations in six counties in New Jersey and New York. Through the main acute-care facility, physician network, hospital outpatient departments offering imaging services in local communities, and a variety of community health and wellness programs, Englewood Health delivers a healthcare experience that puts patients at the center. For additional information, visit www.englewoodhealth.org.
Mary Jo Layton
Hackensack Meridian Health
Media kit available at englewoodhealth.org/mediakit
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SOURCE Hackensack Meridian Health