Over 350 Total Lots Up For Auction at Three Locations - MD 02/08, TX 02/10, Ontario 02/14

Capital Health and St. Francis Medical Center sign definitive agreement for Capital Health to acquire St. Francis

Press releases may be edited for formatting or style | January 20, 2022 Business Affairs
TRENTON, N.J., Jan. 19, 2022 /PRNewswire/ -- Capital Health and St. Francis Medical Center, a member of Trinity Health, have entered into a definitive agreement to move forward with Capital Health's acquisition of St. Francis Medical Center.

The addition of St. Francis Medical Center to the Capital Health network of health care services will result in an integrated, comprehensive, and sustainable non-profit health care system for communities in the greater Trenton area.

The definitive agreement was reached after a non-binding letter of intent was signed in the spring and a subsequent due diligence period. The due diligence process evaluated how to best enhance capabilities and fulfill the organizations' shared mission to serve the City of Trenton, surrounding communities, and their residents. The agreement will now move through required state and federal regulatory approvals, a review process that can take more than a year.

"Capital Health and St. Francis Medical Center have had a shared mission to support our community for more than a century," said Al Maghazehe, President and CEO of Capital Health.

"Over the last several years, as Capital Health has continued to grow and expand its geography, one thing I have been very clear on is our enduring commitment to Trenton. This undertaking demonstrates that and will be complemented by other significant investments Capital Health will make to develop programs focusing on the broader needs of our neighbors, bringing a holistic approach to their well-being. We are truly excited for this next chapter in health care for our region."

"In completing the due diligence process, we have concluded months of planning and discussion and can now start a plan to bring our organizations together with a goal of greater care options for the community," said Daniel P. Moen, President and Chief Executive Officer, St. Francis Medical Center. "Serving our community is at the heart of each of our organizations, and it is through this shared mission and aligned approach to care that residents will receive improved access to high-quality care."

As a result of the definitive agreement, Capital Health plans to offer an enhanced complement of integrated services with community and tertiary levels of care to more efficiently meet the needs of area residents. Preserving and strengthening healthcare services in Trenton will be a priority. Capital Health's acquisition of St. Francis will combine St. Francis' specialized cardiac services with Capital Health's specialized service lines including neuroscience, trauma, cancer, maternity, and orthopedics, as well as preserving other critical programs in the areas of emergency and behavioral health services. It will also align all of these complementary services with Capital Health Medical Group, which includes more than twenty primary care practices and dozens of specialty practices throughout the region. In addition to St. Francis Medical Center, the acquisition will include related operations, including LIFE St. Francis, St. Francis Medical Associates, its Schools of Nursing and Radiologic Technology, and internal medical residency program.

You Must Be Logged In To Post A Comment