The acquisition builds on the strategic affiliation the two organizations entered into in early 2014 after a deal for Trinity and St. Joseph’s to join forces fell through.
The agreement, which still requires regulatory approval, allows Trinity to expand its market share in New York and St. Joseph’s to gain access to Trinity’s capital resources.
“St. Joseph’s already has outstanding programs and services, that will now become part of a leading national system,” said Kathryn Ruscitto, president and CEO of St. Joseph’s.
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Editors note: This article was updated on April 30. The headline previously stated Trinity was purchasing a hospital.
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