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Hackensack University & Meridian Health Approve Merger

Thursday, May 21, 2015   (0 Comments)
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 ​May 17th, 2015

Boards of Hackensack University Health Network and Meridian Health
Approve Merger

Meridian Health and Hackensack University Health Network announced today that they have signed a definitive agreement for the two health systems to merge and become Hackensack Meridian Health.
The two systems first announced their merger plans in October and have been engaged in a review period spanning clinical, regulatory, service and financial issues. The merger still requires state and federal regulatory clearance, which the health systems expect within nine to 12 months.

“Hackensack University Health Network is pleased to partner with Meridian Health in this historic merger,” said Robert C. Garrett, FACHE, president and CEO of Hackensack University Health Network. “From the beginning, both organizations knew we wanted to do the right thing for the people of New Jersey. Hackensack Meridian Health will truly elevate the level of healthcare provided throughout much of the region by creating the state’s most comprehensive healthcare system.”

“There are many firsts throughout New Jersey’s history,” said John K. Lloyd, FACHE, president and CEO of Meridian Health.  “Today marks the first time that two of the state’s most innovative healthcare systems are joining to transform the delivery of healthcare and better meet the needs of the communities we serve.”
Following regulatory approval, the newly formed organization will share a corporate board with an equal number of trustees from each system. Garrett and Lloyd will serve as co-chief executive officers for a period of two and a half years after which time Garrett would become the sole CEO.

The combined entity will have 11 hospitals and two children’s hospitals, 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 approximately 25,000 team members and nearly 6,000 physicians on staff.

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