Hackensack Meridian Health and JFK Health Sign Definitive Agreement to Merge
Today, the boards of trustees of JFK Health and Hackensack Meridian Health announced that the two not-for-profit health networks signed a definitive agreement to merge. The agreement follows more than five months of due diligence where a thorough review of clinical, regulatory, service, and financial issues occurred. The agreement now undergoes regulatory review with the state Attorney General and the Federal Trade Commission.
“JFK Health and Hackensack Meridian Health share a common mission and commitment to quality. From our partnerships in rehabilitation and homecare, we have a long history together and are both dedicated to providing the very best patient experience,” said John K. Lloyd, FACHE, co-CEO, Hackensack Meridian Health. “As a new and growing organization, we have an incredible opportunity to transform health care and provide residents with greater access to care.”
“Choosing the right partner that provides the highest-quality care and value to the communities we serve is essential. We are thrilled JFK wants to be part of Hackensack Meridian Health. We believe JFK Health will be a great addition to our network,” said Robert C. Garrett, FACHE, co-CEO, Hackensack Meridian Health. “We will continue to improve the well-being of communities with more cost effective care that delivers quality, safe outcomes, clinical excellence and a superior experience.”
“In a rapidly changing health care environment that stresses the efficient delivery of care, this merger strengthens and aligns our two organizations to maximize our population health initiatives and increase access for everyone,” said Raymond Fredericks, president & CEO, JFK Health. “Hackensack Meridian Health’s culture of caring is one that matches our values and principles sustained during JFK’s 50-year history.”
With the addition of JFK Health, Hackensack Meridian Health will consist of 15 hospitals throughout New Jersey, including academic medical centers – Hackensack University Medical Center in Hackensack, Jersey Shore University Medical Center in Neptune; children's hospitals – Joseph M. Sanzari Children's Hospital in Hackensack, K. Hovnanian Children's Hospital in Neptune; community hospitals – Ocean Medical Center in Brick, Riverview Medical Center in Red Bank, Mountainside Medical Center
in Montclair, Palisades Medical Center in North Bergen, Raritan Bay Medical Center in Perth Amboy, Southern Ocean Medical Center in Manahawkin, Bayshore Medical Center in Holmdel, Raritan Bay Medical Center in Old Bridge, Pascack Valley Medical Center in Westwood, and JFK Medical Center in Edison, along with a network of physician practices, ambulatory surgery centers, home care, long-term care and assisted living facilities, ambulance services, fitness and wellness centers, and outpatient centers. The combined entity will employ more than 33,000 team members and over 7,000 physicians on staff.
“Hackensack Meridian Health is a leader in orchestrating excellence around people and creating a better world for all,” said Joseph Simunovich, co-chair of the Hackensack Meridian Health Board of Trustees. “We look forward to taking the next steps to make this merger a reality.”
“We welcome JFK Health with open arms,” said Gordon Litwin, Esq., co-chair of the Hackensack Meridian Health Board of Trustees. “This is an exciting time for health care in New Jersey and beyond. Hackensack Meridian Health is leading the way in advancing the delivery of health care through groundbreaking partnerships and innovation – truly redesigning how care is delivered.”
“Our merger with Hackensack Meridian Health emphasizes our desire to continue to deliver high quality and safe clinical services and further supports our numerous health initiatives,” said Michael Kleiman, DMD, chairman of JFK Health.
The addition of JFK’s nationally recognized Neuroscience Institute and Johnson Rehabilitation Institute enhances the already impressive portfolio of health services offered by Hackensack Meridian Health hospitals. The JFK Neuroscience Institute is one of the most comprehensive clinical programs in New Jersey for the diagnosis and treatment of neurological disorders. The JFK Johnson Rehabilitation Institute is a 92-bed inpatient and outpatient hospital offering fully integrated and personalized rehabilitation that facilitates recovery. These programs complement Hackensack Meridian Health’s partnership with Memorial Sloan Kettering Cancer Center offering a new standard of cancer care available to people across the state.
About Hackensack Meridian Health
Hackensack Meridian Health is a leading not-for-profit health care organization that is the most comprehensive and truly integrated health care network in New Jersey, offering a complete range of medical services, innovative research and life-enhancing care. Hackensack Meridian Health comprises 13 hospitals, including two academic medical centers, two children's hospitals and nine community hospitals, physician practices, more than 120 ambulatory care centers, surgery centers, home health services, long-term care and assisted living communities, ambulance services, lifesaving air medical transportation, fitness and wellness centers, rehabilitation centers, and urgent care and after-hours centers. Hackensack Meridian Health has 28,000 team members, more than 6,000 physicians and is a distinguished leader in health care philanthropy, committed to the health and well-being of the communities it serves.
The Network's notable distinctions include having one of only five major academic medical centers in the nation to receive Healthgrades America's 50 Best Hospitals Award for five or more consecutive years, the number one hospital in New Jersey as ranked by U.S. News and World Report, consistently achieving Magnet® recognition for nursing excellence from the American Nurses Credentialing Center, recipient of the John M. Eisenberg Award for Patient Safety and Quality from The Joint Commission and the National Quality Forum, a six-time recipient of Fortune's "100 Best Companies to Work For," one of the "20 Best Workplaces in Health Care" in the nation, and the number one "Best Place to Work for Women." Hackensack Meridian Health is a member of AllSpire Health Partners, an interstate consortium of leading health systems, to focus on the sharing of best practices in clinical care and achieving efficiencies.
The hospitals of Hackensack Meridian Health include: academic medical centers – Hackensack University Medical Center in Hackensack, Jersey Shore University Medical Center in Neptune; children's hospitals – Joseph M. Sanzari Children's Hospital in Hackensack, K. Hovnanian Children's Hospital in Neptune; community hospitals – Ocean Medical Center in Brick, Riverview Medical Center in Red Bank, Mountainside Medical Center in Montclair, Palisades Medical Center in North Bergen, Raritan Bay Medical Center in Perth Amboy, Southern Ocean Medical Center in Manahawkin, Bayshore Medical Center in Holmdel, Raritan Bay Medical Center in Old Bridge, and Pascack Valley Medical Center
For additional information, please visit www.HackensackMeridianHealth.org.
About JFK Health
JFK Health is committed to excellence in providing quality and compassionate healthcare services to its diverse communities. At JFK Health, we recognize the value of every person and guided by our commitment to excellence and leadership. We demonstrate this by providing exemplary physical, emotional and spiritual care for each of our patients and their families. JFK Health is comprised of JFK Medical Center and numerous affiliates including ambulatory care centers, rehabilitation and neuroscience institutes, assisted living, nursing and rehabilitation centers and a school of nursing.
Opened in 1967, JFK is a 498-bed, full service, nonprofit community hospital that offers a complete array of advanced services, such as: general and specialized surgery, behavioral health, orthopedics, cardiology, maternity and pediatric care and emergency medicine. In addition to the services found at most community hospitals, JFK is home to the JFK Neuroscience Institute, a leader in the diagnosis and treatment of brain and spinal disorders and the JFK Johnson Rehabilitation Institute, offering state-of- the-art therapeutic programs for individuals disabled by illness or injury. JFK has received the Stroke Excellence award from Healthgrades for the 12th year in a row and has been rated in the Top 10% in the Nation for Stroke Care. JFK Medical Center has received our 9th ‘A’ grade for quality and safety from the Leapfrog Group. An affiliate of JFK Health, JFK Medical Center is accredited by the Joint Commission.
For additional information, visit www.jfkmc.org.
Hackensack Meridian Health