New Jersey hospital deal collapses after gaining state approval

John Gregory | May 10, 2017 | Health Exec | Economics

Ontario, California-based Prime Healthcare Foundation won regulatory approval on May 8 to buy Salem, New Jersey-based Memorial Hospital of Salem County—but then decided to scuttle the deal the very same day.

According to NJ.com, Prime withdrew the $15 million acquisition proposal New Jersey Department of Health, but gave no reason why it was scrapping a purchase it had been seeking since December 2015.

“Prime Healthcare continues its dedication to creating a strong future for community hospitals and we are applying our resources to other strategic priorities,” said company spokeswoman Elizabeth Nikels in confirming Prime had withdrawn from the deal.

That leaves the struggling the 126-bed Salem hospital, owned by Community Health Systems, inching closer to closure.

Read the full article at the link below:

Just as state OKs sale of Salem County hospital, deal collapses in 11th hour

John Gregory, Senior Writer

John joined TriMed in 2016, focusing on healthcare policy and regulation. After graduating from Columbia College Chicago, he worked at FM News Chicago and Rivet News Radio, and worked on the state government and politics beat for the Illinois Radio Network. Outside of work, you may find him adding to his never-ending graphic novel collection.

Around the web

Cardiovascular Business

Cardiologist compensation still rising, especially in invasive and interventional cardiology

Updated compensation data includes good news for multiple subspecialties. The new report also examines private equity's impact on employment models and how much male cardiologists earn compared to females.

Cardiovascular Business

FDA’s tirzepatide decision creates uncertainty for patients—and leads to a lawsuit

When drugs are on the FDA’s shortage list, outsourcing facilities can produce their own compounded versions. When the FDA removed tirzepatide from that list with no warning, it created a considerable amount of chaos both behind the scenes and in pharmacies all over the country.

Cardiovascular Business

Cardiology groups cheer new bill that would improve access to Medicare claims data

If passed, this bill would help clinician-led clinical registries explore Medicare data for research purposes. The Society of Thoracic Surgeons and American College of Cardiology both shared public support for the bipartisan legislation.

New Jersey hospital deal collapses after gaining state approval

Related Content

Around the web