Woodbury, N.J.-based Underwood-Memorial Health Systems and Vineland, N.J.-based South Jersey Health System signed a merger agreement Thursday to join the two systems.
The systems began merger discussions last May and signed a definitive agreement for the merger in January. The deal received federal approval in July and state approval from the New Jersey Superior Court Judge in October.
According to the release, the organizations will incorporate best practices from each and work toward facilitating a system-wide standard of care that can more efficiently and effectively provide patient-focused healthcare.
In addition, the merger offers both South Jersey Health and Underwood-Memorial Health growth opportunities. According to the release, the growth opportunities will enhance key service lines, and will include the following:
• Develop outpatient care sites in an expanded service area.
• Build stronger relationships with government agencies with respect to public funding initiatives and public policy affecting healthcare services in the region.
• Give patients access to an expanded local network of providers offering high quality care in a cost effective manner.
• Provide more seamless, efficient and effective care over a broader region through the development of combined quality and safety efforts, financial performance and staff development.
Representatives from both organizations' boards will hold seats on a newly formed board. Each organization will also retain individual boards of trustees to provide leadership for their hospitals.
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The systems began merger discussions last May and signed a definitive agreement for the merger in January. The deal received federal approval in July and state approval from the New Jersey Superior Court Judge in October.
According to the release, the organizations will incorporate best practices from each and work toward facilitating a system-wide standard of care that can more efficiently and effectively provide patient-focused healthcare.
In addition, the merger offers both South Jersey Health and Underwood-Memorial Health growth opportunities. According to the release, the growth opportunities will enhance key service lines, and will include the following:
• Develop outpatient care sites in an expanded service area.
• Build stronger relationships with government agencies with respect to public funding initiatives and public policy affecting healthcare services in the region.
• Give patients access to an expanded local network of providers offering high quality care in a cost effective manner.
• Provide more seamless, efficient and effective care over a broader region through the development of combined quality and safety efforts, financial performance and staff development.
Representatives from both organizations' boards will hold seats on a newly formed board. Each organization will also retain individual boards of trustees to provide leadership for their hospitals.
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