CentraState Healthcare System, a single-hospital system based in Freehold, N.J., has signed a definitive agreement to join Atlantic Health System, a seven-hospital system based in Morristown, N.J.
Under the agreement, which requires regulatory approval, Atlantic Health will become the majority corporate member in CentraState. It also calls for a $135 million capital investment in CentraState.
"We are excited to deliver our shared mission of advancing the health of our communities, and confident this innovative partnership positions both organizations for continued success and growth," CentraState Healthcare President and CEO John Gribbin said in a news release.
The systems entered into the definitive agreement after signing a letter of intent in September and entering into an oncology and neuroscience clinical affiliation earlier this year.