Pompton Plains, N.J.-based Chilton Health Network has signed a definitive merger agreement with Atlantic Health System, based in Morristown, N.J., according to a report by The Record.
Under the agreement, announced in October, non-profit Atlantic will assume the 260-bed Chilton Hospital parent company's $43 million in debt, invest in capital improvements and allow the hospital to keep its name, staff and acute-care hospital status, pending approval by the New Jersey Department of Health expected this year.
Other financial details of the merger were not disclosed.
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Under the agreement, announced in October, non-profit Atlantic will assume the 260-bed Chilton Hospital parent company's $43 million in debt, invest in capital improvements and allow the hospital to keep its name, staff and acute-care hospital status, pending approval by the New Jersey Department of Health expected this year.
Other financial details of the merger were not disclosed.
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