Hackensack, Meridian Hospital Networks Planning Merger

EAST BRUNSWICK, N.J. (CBSNewYork/AP) -- Two New Jersey hospital networks say they are planning to merge.

Meridian Health and Hackensack University Health Network officials said Thursday that they have signed a memorandum of understanding and are working toward a merger. They said it could be four months before they have a final agreement.

In a news release, Gordon Litwin, chairman of the Meridian Health Board of Trustees, described the discussions as "an exciting and thoughtful journey to move from a good idea to a great and formal relationship."

Added Robert C. Garrett, president and CEO of Hackensack University Health Network: "First and foremost, this is about delivering value to the patients we serve, which means the highest quality at the most appropriate cost. Our combined organization would serve a much broader geography, expanding access to services and developing a vast array of new non-hospital services to conveniently serve area communities."

The merger would need to be approved by regulators.

The new organization would be known as Hackensack Meridian Health and share a board made up of an equal number of trustees from each network.

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