As part of a new clinical and strategic affiliation, Hackensack (N.J.) Meridian Health has agreed to provide $60 million to Paterson, N.J.-based St. Joseph's Health to improve clinical operations, according to Crain's New York.
The money will help St. Joseph's improve oncology services and invest in technology upgrades.
Hackensack Meridian Health also will allow St. Joseph's to tap into its expertise as a member of the national cancer institute consortium to improve St. Joseph's oncology program.
Under the agreement, both organizations will remain independent with their own boards and leadership teams.
Read the full report here.
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