As part of the closing, Cape Regional Medical Center has been renamed Cooper University Hospital Cape Regional.
The combined health system comprises two hospitals with more than 900 beds, 130 ambulatory sites and almost 11,000 employees, including over 1,000 physicians. It is projected to have revenue exceeding $2.2 billion a year.
The transaction unlocks significant growth opportunities, particularly in the outpatient market, as healthcare continues its shift away from inpatient settings, Camden, N.J.-based Cooper CFO Brian Reilly told Becker’s.
“We are happy to have brought this vision to reality. We look forward to working with our new colleagues to build upon their tremendous work and provide the highest quality of primary and specialty care to the residents and visitors at the shore,” Anthony Mazzarelli, MD, co-CEO of Cooper University Health Care, said in a news release.
