Saint Clare's Health System based in New Jersey., and Catholic Health Initiatives in Englewood, Colo., have announced a decision to seek a new owner for Saint Clare's Health.
The Saint Clare's Health board has recommended Ascension Health Care Network, an affiliate of Ascension Health in St. Louis, Mo., as a potential new owner. The parties have agreed to enter into exclusive negotiations with the intent of signing a non-binding letter of intent to transfer ownership of Saint Clare's to Ascension Health.
Terms of the agreement will be negotiated. A definitive agreement is expected around June 30 with the transaction closing before the end of the year if approved by Catholic Health, federal, state and Church authorities.
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The Saint Clare's Health board has recommended Ascension Health Care Network, an affiliate of Ascension Health in St. Louis, Mo., as a potential new owner. The parties have agreed to enter into exclusive negotiations with the intent of signing a non-binding letter of intent to transfer ownership of Saint Clare's to Ascension Health.
Terms of the agreement will be negotiated. A definitive agreement is expected around June 30 with the transaction closing before the end of the year if approved by Catholic Health, federal, state and Church authorities.
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