The boards of trustees of Neptune, N.J.-based Meridian Health and the parent organization of Perth Amboy, N.J-based Raritan Bay Medical Center have approved a definitive merger agreement.
The two organizations, which serve patients in neighboring counties, signed a letter of intent to explore a merger in September 2014.
The combined entity will serve a regional population of about 1.5 million residents, and the system will have more than 2,700 physicians on staff.
The leaders of both Meridian and Raritan Bay showed excitement about the deal. "Both of our organizations share a commitment to quality and together, we will take progressive steps to join our services and our neighboring geographies to offer expanded choices for care to our residents," said John K. Lloyd, president and CEO of Meridian Health.
Michael R. D'Agnes, president and CEO of Raritan Bay Medical Center, said, "I could not be happier to work with my long-time professional colleague John Lloyd to integrate Raritan Bay Medical Center into their system and provide our community greater access to superior care."
The transaction is expected to gain regulatory approval later this year.
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