Two large health care providers in New Jersey, Meridian Health and Hackensack University Health Systems, have agreed to join forces, putting the final touches on their merger this week and creating the state’s largest health care system.
The deal follows seven months of due diligence between the two organizations that involved a review of the entities’ financial, clinical, regulatory and service issues. The merger still requires state and federal approval, with representatives from Hackensack and Meridian expecting to occur within the next nine to 12 months.
The combined entity, which will be called Hackensack Meridian Health, will have 11 hospitals and two children’s hospitals, as well as other services and facilities such as home care and ambulatory surgery centers.
Following the final approval the new entity will share a corporate board comprised of an equal number of trustees from each system.
Hackensack Meridian Health will have to employ 25,000 and have about 6,000 physicians on staff, according to information provided by Meridian Health.
“Today marks the first time that two of the state’s most innovative health care systems are joining to transform the delivery of health care and better meet the needs of the communities we serve,” said John K. Lloyd, chief executive officer of Meridian.
This announcement comes about a month after Meridian finalized its merger with Raritan Medical Center, in Middlesex County, with the larger Meridian taking the independent Raritan into its fold.
