If the transaction is approved, the entity would become the fourth-largest health system in New Jersey, earning nearly $2 billion in revenue and employing 12,000 people, according to the Philadelphia Business Journal.
The letter of intent comes after a year of discussion between Carbondale, Pa.-based Maxis Health, the parent company of Lourdes Health System and St. Francis Medical Center, and potential suitors. The health organizations will continue discussions to finalize an agreement. The final deal will need regulatory approval.
“This agreement will bring together healthcare providers from across south and central New Jersey, allowing us to dramatically expand access to the high quality of care for thousands of new patients,” said George E. Norcross, chairman of Cooper University Health Care’s board of trustees, according to the Philadelphia Business Journal.
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