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Saint Clare's Health System Clears Court Approval for Sale to Prime HealthcareThe New Jersey Superior Court, Chancery Division of Morris County today approved the Community Health Care Protection Act (CHAPA) application of Prime Healthcare and Saint Clare's Health System. The court's approval completes the New Jersey regulatory approval process, which will allow Prime to acquire Saint Clare's. Previously, the New Jersey Office of the Attorney General and the Department of Health deemed the CHAPA and the Certificate of Need applications for Prime Healthcare Services to acquire Saint Clare's to be complete. "We want to thank Judge Hansbury, the Office of the Attorney General and the Department of Health for their thorough review of the application and for the time and resources they have dedicated to it," said Prem Reddy, MD, FACC, FCCP, chairman, president, and CEO of Prime Healthcare. "We're pleased that Saint Clare's will soon join St. Mary's as part of our New Jersey health care system." "Today is a significant milestone in Saint Clare's history and its future," said Leslie D. Hirsch, president and CEO of Saint Clare's Health System. "I want to thank the Saint Clare's board, physicians, staff, employees, volunteers and the communities we serve for their ongoing commitment and dedication to Saint Clare's. I especially appreciate the hard work of Catholic Health Initiatives (CHI), our parent organization, and of Prime Healthcare for their combined support and efforts to secure the approvals that will lead to our transfer from CHI to Prime." The transaction, which will complete the sale and transfer of Saint Clare's to Prime, is anticipated to occur on July 31, 2015. Prime Healthcare Servies is an award-winning hospital system that was recognized as a Top 15 Health System in the nation in 2013 by Truven Health Analytics (formerly Thomson (News - Alert) Reuters) for quality patient care and patient satisfaction. It was the third time in six years the health system was recognized. Prime Healthcare Services Prime Healthcare is an award-winning national hospital system with 34 acute-care hospitals providing more than 35,000 jobs in 11 states. Based in California and one of the largest hospital systems in the country, Prime Healthcare is committed to ensuring access to quality healthcare. It has been recognized as among the "100 Top Hospitals" in the nation 33 times and among the "15 Top Health Systems" three times, and is the only "10 Top Health Systems" west of the Mississippi. Our hospitals have been recognized by The Joint Commission among the "Top Performers on Key Quality Measures" in 2014. Prime Healthcare is dedicated to serving our patients and communities. Since 2010, our hospitals have provided more than $2 billion in charity and uncompensated care. We provide more charity care than any other hospital system in California (excluding public hospitals) and nearly double the state average. With over $800 million invested in capital improvements since 2005, we are committed to transforming all of our hospitals into award-winning centers of excellence. For more information, please visit www.primehealthcare.com About Saint Clare's Health System Saint Clare's Health System, which has served the health care needs of northwestern New Jersey residents since 1895, is the region's premier provider of community-based health care and behavioral health services. Saint Clare's operates hospitals in Boonton Township, Denville, and Dover, and other facilities located throughout Morris and Sussex counties. Saint Clare's is part of Catholic Health Initiatives, a nonprofit, faith-based health system formed in 1996 through the consolidation of four Catholic health systems, expresses its mission each day by creating and nurturing healthy communities in the hundreds of sites across the nation where it provides care. One of the nation's largest health systems, Englewood, Colo.-based CHI operates in 19 states and comprises 105 hospitals, including four academic health centers and teach hospitals and 30 critical-access facilities; community health-services organizations; accredited nursing colleges; home-health agencies; and other facilities that span the inpatient and outpatient continuum of care. View source version on businesswire.com: http://www.businesswire.com/news/home/20150626005817/en/ |
