Hackensack Meridian Health — a system that includes senior living communities and skilled nursing facilities — and Englewood Health have signed a definitive agreement to merge, the organizations’ boards announced Tuesday. Hackensack Meridian has committed to investing $400 million in Englewood if regulators approve the deal.
Under the terms, Englewood, NJ-based Englewood will become part of Edison, NJ-based Hackensack Meridian Health, expanding collaborations between the two not-for-profit systems beyond an existing clinical and academic affiliation that was forged in 2015.
“We are thrilled Englewood wants to be part of Hackensack Meridian Health. We believe they will be a great addition to our network,” Hackensack Meridian Health CEO said Robert C. Garrett said in a statement.
The Hackensack Meridian system includes 17 hospitals and more than 500 other care locations throughout the state, including three senior living communities, 13 skilled nursing facilities, home health services, ambulatory care centers, surgery centers, ambulance services, air medical transportation, fitness and wellness centers, urgent care centers and physician practices.
Additionally, Hackensack Meridian joined with Seton Hall University to launch a medical school, is partners with Memorial Sloan Kettering Cancer and is a member of AllSpire Health Partners, an interstate consortium of health systems. Englewood Health includes Englewood Hospital, the Englewood Health Physician Network and the Englewood Health Foundation.
“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,” Englewood Health President and CEO Warren Geller said. “This decision is about building the most efficient, most effective health system possible to benefit the communities we serve.”
The signed deal follows an extensive review of clinical, regulatory, service and financial issues by the two systems, according to the organizations’ boards. The agreement now 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.