According to the release, Prime Healthcare will make a significant investment in order to financially stabilize St. Mary’s, allowing it to continue its mission to serve individuals living in Passaic and the surrounding communities.
However, the purchase must be approved by the New Jersey Department of Health as well as the state’s Attorney General before it is final.
More Articles on Hospital Acquisitions:
4 Tips for Hospital Merger & Acquisition Success
UCSF Medical Center and Children’s Hospital & Research Center Oakland Sign Letter of Intent
Vanguard Health Systems, Bristol Hospital Sign Letter Of Intent for Acquisition
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.