Prime Healthcare has acquired New Jersey-based Saint Clare’s Health System in the US.
Under the asset purchase agreement between Prime Healthcare and Catholic Health Initiatives (CHI), Prime Healthcare agreed to hire all employees at Saint Clare’s Health System and invest $30m to improve their facilities over the next five years.
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CHI senior vice-president Peter Banko said the transaction received approval after a thorough review by the New Jersey Department of Health and Office of the New Jersey Attorney General that started in mid-2012.
The deal included the sale of Saint Clare’s hospitals in Boonton, Denville and Dover, as well as Saint Clare’s Health Center in Sussex, and other facilities in Morris and Sussex counties.
Franciscan Oaks and Saint Clare’s Foundation have not been included in the deal.
Saint Clare’s Health System’s three hospitals comprises 454 licensed beds with 2,500 employees.
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By GlobalDataPrime Healthcare Services president Dr Prem Reddy said: "Prime Healthcare looks forward to expanding its presence in the garden state and partnering with the Saint Clare’s community of dedicated physicians, nurses and employees.
"We are committed to providing the best quality care in each and every community we serve and the addition of Saint Clare’s to the Prime Healthcare family will allow us to continue that tradition."
Based in California, Prime Healthcare is a hospital system that operates 34 acute care hospitals in 11 US states.
