Here are five things to know about the agreement.
1. The agreement comes after nearly seven months of due diligence, according to a news release.
2. The merger still requires state and federal regulatory clearance, which both parties expect within the next nine to 12 months.
3. Following regulatory approval, Hackensack Meridian Health will share a corporate board comprised of an equal number of trustees from each system.
4.The integrated health system will also have co-CEOs.
5. The new entity will include 11 hospitals.
More articles on hospital transactions and valuation issues:
Novant Health seeks to sell Franklin Medical Center: 4 things to know
Nobilis acquires Victory Healthcare Plano Hospital: 4 things to know
Q1 hospital M&A activity keeps pace with 2014
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