Meridian Health Announces Plans to Merge with Raritan Bay Medical Center
Meridian Health and Raritan Bay Medical Center have announced the signing of a Letter of Intent (LOI) between the organizations to explore a merger.
"We are very excited about this opportunity with Raritan Bay Medical Center," says John K. Lloyd, FACHE, president of Meridian Health. "While Meridian Health serves primarily Monmouth and Ocean counties and parts of Middlesex County, Raritan Bay services Middlesex County and parts of Northern Monmouth County. Our neighboring geography will allow us to give residents in those areas more choices for accessing care and tertiary services."
Both not-for-profit organizations are locally based and have developed critical hospital and non-hospital services, including outpatient facilities, which both boards agree would create greater community access to physicians and quality health services.
"From our charitable missions and Magnet recognized nurses, to our commitment to services in cardiovascular, stroke, cancer, and orthopedics, our health systems share similar interests and cultures," says Michael D'Agnes, president and CEO of Raritan Bay Medical Center. "We are optimistic about the good things that could happen for our communities from this proposed partnership."
D'Agnes added that the two organizations already participate in a group purchasing organization together and have partnered on services in the past like Raritan Bay's cardiac catheterization laboratory.
Over the next several months, Meridian Health and Raritan Bay Medical Center will enter into a due diligence period to thoroughly examine financial, clinical, and legal issues. The process is expected to take approximately four months and would be followed by a definitive agreement and regulatory review.
"This is a challenging time for health care organizations," says Lloyd. "Forward-thinking organizations are always looking for partners who want to enhance patient care and experience and improve the health of our communities all while achieving needed efficiencies. We see that fit with Raritan Bay."
About Meridian Health
Meridian Health is a leading not-for-profit health care organization in New Jersey, comprising Jersey Shore University Medical Center and K. Hovnanian Children's Hospital in Neptune, Ocean Medical Center in Brick, Riverview Medical Center in Red Bank, Southern Ocean Medical Center in Manahawkin, Bayshore Community Hospital in Holmdel, and Meridian Partner Companies that include home health services, skilled nursing and rehabilitation centers, ambulatory care, ambulance services, fitness and wellness centers, and outpatient centers. Meridian Health has consistently been rated among the top performing health systems in New Jersey for clinical quality, is one of the FORTUNE "100 Best Companies to Work For" for five consecutive years, and is the recipient of numerous state and national recognitions for patient care and nursing excellence. Meridian Health is a member of AllSpire Health Partners, an interstate consortium alongside six of the nation's leading health systems to address quality, population health management, best practices and medical research. For more information, please visit www.MeridianHealth.com.
About Raritan Bay Medical Center
With hospitals in Old Bridge and Perth Amboy, Raritan Bay Medical Center (RBMC) is a recipient of the American Stroke Association and American Heart Association Get with the Guidelines® - Stroke Silver Plus and Heart Failure Gold Performance Achievement Awards. The hospital is one of less than seven percent of hospitals nationally to achieve Magnet Recognition for nursing excellence three times and is ranked in the top 10 percent of New Jersey hospitals in surgical care according to the 2012 NJ Hospital Performance Report. RBMC is also an affiliate Joslin Diabetes Center, providing the latest advances for treating diabetes and its complications as well as patient education and support services. For more information, visit rbmc.org. For a physician referral, call 1-800-DOCTORS.