Categorized | 1 News Release, Health

Boards of Meridian Health and Raritan Bay Health Services Corporation Approve Merger

News Release 4/7/15

NEPTUNE -– The boards of trustees of Meridian Health and Raritan Bay Health Services Corp., the parent organization of Raritan Bay Medical Center, have approved the definitive agreement for the two not-for-profit health systems to merge. The agreement follows nearly seven months of due diligence during which time a thorough review of clinical, regulatory, service, and financial issues occurred. The merger still requires state regulatory approval, which the health systems expect to secure later this year. Both CEOs commented that the due diligence process has gone smoothly and that the cultures of the two organizations have proven very compatible.

“We’ve been excited about this opportunity with Raritan Bay Medical Center from the beginning,” says John K. Lloyd, FACHE, president of Meridian Health. “Both of our organizations share a commitment to quality and together, we will take progressive steps to join our services and our neighboring geographies to offer expanded choices for care to our residents.”

While Meridian Health serves primarily Monmouth and Ocean counties and parts of Middlesex County, Raritan Bay services Middlesex County and parts of Northern Monmouth County. The combined entity will have eight hospitals — Jersey Shore University Medical Center, Neptune, Ocean Medical Center, Brick, Riverview Medical Center, Red Bank, Southern Ocean Medical Center, Manahawkin, Bayshore Community Hospital, Holmdel, K. Hovnanian Children’s Hospital, Neptune, Raritan Bay Medical Center, Old Bridge and Raritan Bay Medical Center, Perth Amboy — and a network of physician practices, ambulatory surgery centers, home care, long-term care and assisted living facilities, ambulance services, fitness and wellness centers, and outpatient centers. The combined entity will serve a regional population of about 1.5 million residents, and the system will employ approximately 15,000 team members and have more than 2,700 physicians on staff.

“We spent a number of years looking for the right partner, one that not only offered the resources to help us to grow, but also shared our vision to be the region’s best medical center. Thanks to the hard work and dedication of our employees and medical staff we are joining an advanced, forward-thinking system in Meridian Health,” says Michael R. D’Agnes, FACHE, president of Raritan Bay Medical Center. “I could not be happier to work with my long-time professional colleague John Lloyd to integrate Raritan Bay Medical Center into their system and provide our community greater access to superior care.”

“There is no doubt that this merger gives us the opportunity to offer innovative, patient-centered health care services to a broader region while letting us share significant population health management expertise with Raritan Bay,” says Lloyd. “Through care coordination and clinical integration, we will help individuals better understand their risk of illness, and customize prevention and treatment strategies that will serve our communities well.”

Meridian Health and Hackensack University Health Network also signed a letter of intent to merge on October 16, 2014. That merger transaction is nearing its completion of due diligence

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