West Orange, N.J.-based RWJBarnabas Health has signed a letter of intent to buy two hospitals from Jersey City, N.J.-based CarePoint Health.
RWJBarnabas is set to acquire 363-bed Christ Hospital, based in Jersey City, and the 333-bed Hoboken (N.J.) University Medical Center, it announced this week.
The two parties are expected to reach a definitive agreement by the end of the year.
CarePoint said it is seeking a strategic partner for its third hospital, Bayonne (N.J.) Medical Center.
With the addition of the two hospitals, RWJBarnabas would grow into a system that includes 13 acute care hospitals, three acute care children's hospitals, a pediatric rehabilitation hospital, among other outpatient facilities.
Access the full news release here.
More articles on healthcare industry transactions:
Ascension to sell 2 Wisconsin hospitals
Meet M Health Fairview, a new brand linking 13 hospitals in Minnesota
FTC orders major payers, 2 health systems to turn over data for merger study