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.

You May Also Be Interested In These Stories

(TM and © Copyright 2014 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2014 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

More From CBS New York

Get Our Morning Briefs

Watch & Listen LIVE