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Seton Hall, Hackensack Meridian Health cinch site for new medical school

South Orange, N.J.-based Seton Hall University and Hackensack (N.J.) Meridian Health in signed a long-term lease agreement to lease 16 acres and two buildings on the former Hoffmann-La Roche biomedical campus to serve as the home of their new health and medical sciences campus.

Hackensack Meridian Health Network and Seton Hall University partnered in January 2015 to operate New Jersey's first private medical school in 50 years, which is planned to take up part of the Roche property. The site will also be home to Seton Hall's College of Nursing and School of Health and Medical Sciences, which will move from its present location on the university's main campus. The 25-year lease will begin in October 2016.

Prism Capital Partners acquired the 116-acre campus from Hoffmann-La Roche on Wednesday and signed the lease with the school partners, for 16 acres of that land and two facilities, the same day.

The layout of the new campus mirrors the holistic method to care the industry is slowly adopting. Students from medicine, nursing, occupational and physical therapy and other related fields will learn and practice together to improve patient care. Hackensack Meridian Health's hospitals will serve as the primary clinical teaching site for Seton Hall and its graduate programs.

Hospital officials appointed Bonita Stanton, MD, as the founding dean of the new School of Medicine. The school is set to open in fall 2018.

More articles about transactions and valuations:
FTC requests more info on Abbott Laboratories' acquisition of St. Jude Medical
Princeton HealthCare, University of Pennsylvania Health System explore partnership
Little River Healthcare to partner with Memorial Hospital of Texas County

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