The New Jersey Superior Court on May 28 approved Cape Regional Health System and Cooper University Health Care's plan to merge.
The combined health system will have two hospitals with more than 900 beds, 130 ambulatory sites and almost 11,000 employees, including over 1,000 physicians.
The merger will unlock significant growth opportunities, particularly in the outpatient market, as healthcare continues its shift away from inpatient settings, Camden, N.J.-based Cooper CFO Brian Reilly told Becker's.
"Cooper is also focused on providing the highest quality of care by making the ongoing investments in our people, talent, infrastructure and innovation," Mr. Reilly said. "We are working on recruiting and retaining the highest talent from high-end, subspecialty care, to the bedside, and across the organization."
Cape Regional Health in Cape May, N.J., includes Cape Regional Medical Center, three urgent care facilities and Cape Regional Physicians Associates, which has more than 60 primary care providers and specialists delivering services in multiple locations throughout Cape May County.
"Together, we are positioned well to address the evolving healthcare needs of this region and provide a more integrated health care experience from primary care to the most complex specialty care," Anthony Mazzarelli, MD, co-CEO of Cooper, said.
The transaction was first announced in December 2022, with a definitive agreement signed in April 2023.