Atlantic Health and Saint Peter’s Healthcare System have decided not to move forward with their planned member substitution transaction, the systems announced Oct. 6.
The two New Jersey-based organizations signed a definitive agreement in June that would have brought Saint Peter’s into Atlantic Health’s care network as its single corporate member. Saint Peter’s was set to implement Epic post-transaction and integrate quality initiatives with Atlantic Health’s physician group.
However, the two organizations decided to halt their plans after lengthy discussions and an analysis of the changing national healthcare landscape.
“While disappointing, unfortunately we have determined that this is the most appropriate path forward,” said Saad Ehtisham, president and CEO of Atlantic Health. “Despite this, our two organizations have enjoyed a shared history of collaboration on behalf of our patients that I hope will continue to guide our work in the future.”
Both organizations said they remain committed to improving care through partnerships, including their continued participation in the Healthcare Transformation Consortium.
“Although we have agreed to mutually terminate the pending transaction, we are disappointed by the result,” said Leslie Hirsch, president and CEO of Saint Peter’s Healthcare System. “Saint Peter’s has profoundly fulfilled its Catholic mission for over 118 years in the communities it serves. Saint Peter’s takes great pride in the fact that it is well-positioned for continued success as it now rethinks its future.”
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