Sponsored by VMG Health | gregk@vmghealth.com | 214.369.4888

Trinity Health in talks to sell New Jersey assets to Virtua Health 3 months after failed merger

Carbondale, Pa.-based Maxis Health reportedly entered into a nonbinding agreement March 8 to sell Lourdes Health System, a two-hospital system in Camden, N.J., to Virtua Health.

Under the letter of intent agreement, Marlton, N.J.-based Virtua Health will purchase Lourdes Health System's two hospitals from Maxis Health, an entity of Livonia, Mich.-based Trinity Health.

"The parties hope that they will be able to complete this transaction, which has the potential to achieve great benefits for healthcare in South Jersey. Further review is underway; there is no final agreement," Lourdes Health System officials said in a news release. "Because we are very early in the due diligence process, the parties have no other information to provide at this time."

The decision comes roughly three months after Camden-based Cooper University Health Care axed its plans to acquire Lourdes Health System and Trenton, N.J.-based St. Francis Medical Center.

More articles on transactions and valuations:
Cleveland Clinic, Avita Health System partner on cancer care
State endorses Beth Israel Deaconess, Lahey Health proposed merger: 4 things to know
State OKs Southern New Hampshire Health, Elliot Hospital combination

© Copyright ASC COMMUNICATIONS 2018. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.


Top 40 Articles from the Past 6 Months