Cooper University Health Care, Lourdes Health System and St. Francis Medical Center have announced plans for all three New Jersey health systems to merge under Cooper. The transaction is part of a letter of intent signed by Cooper and Maxis Health, a subsidiary of Trinity Health and the parent of Lourdes and St. Francis.
Maxis, Lourdes and St. Francis have been in talks for the last year for some sort of deal, with several systems submitting proposals to work with Lourdes, which is based in Camden, N.J., and St. Francis, which is based in Trenton, New Jersey, Trinity officials said in a statement.
"Cooper proposed a partnership that would build on Lourdes' and St. Francis' existing capabilities, including nationally recognized cardiology programs, while maintaining the systems' names and mission. Cooper, Lourdes and St. Francis have each demonstrated their long-standing commitment to caring for urban populations and plan to broaden that work as part of a new partnership," the systems said in a statement.
Moving forward, the systems will continue discussions and due diligence leading to a definitive agreement that will be subject to regulatory approval.
St. Francis Medical Center is a member of the Trinity Health system and is an acute care teaching hospital noted for its advanced cardiac surgery program and the first accredited stroke center in its home county.
Livonia, Michigan-based Trinity Health is a Catholic healthcare system that serves more than 30 million people across 22 states. It includes 93 hospitals, and 120 continuing care programs including senior living facilities, home care and hospice services. Its continuing care programs perform roughly 2.5 million visits each year. The system sees annual operating revenues of $16.3 billion and assets of $23.4 billion, and employs about 131,000 staff, including 5,300 employed physicians.
Cooper University Health Care was established in 1887 and its network includes more than 100 medical offices throughout the region, a surgical center in Voorhees and urgent care centers in Cherry Hill, Audubon, Cinnaminson, and Runnemede. It also touts MD Anderson Cancer Center at Cooper, Children's Regional Hospital at Cooper, and Cooper Medical School of Rowan University, and employs more than 630 physicians, as well as more than 7,000 employees.