Prime Healthcare Services Acquires St. Mary's Hospital, Located in Passaic, New Jersey Partnership Saves More than a 1,000 Jobs and a Critical Safety-Net Hospital
ONTARIO, Calif., Aug. 15, 2014 /PRNewswire/ -- Prime Healthcare announced today that it has completed its acquisition of St. Mary's Hospital in Passaic, New Jersey.
Prime Healthcare is committed to investing more than $80 million into St Mary's Hospital, which serves Passaic, Clifton, Wallington, Carlstadt, Rutherford/East Rutherford, and many other surrounding towns.
"Prime Healthcare is excited about its first partnership with a hospital in New Jersey and looks forward to helping St. Mary's Hospital provide the exceptional patient care residents of Passaic and the surrounding communities want and deserve," said Prem Reddy, M.D., FACC, FCCP, Chairman, President and CEO of Prime Healthcare Services. "Prime Healthcare's motto is 'Saving Hospitals, Saving Jobs and Saving Lives,' and we plan to continue that at St. Mary's and help it become one of the best hospitals in the state and in the country."
Some of the key points of the acquisition will include:
- St. Mary's will continue as an acute care facility with all its current services.
- $30 million in capital improvements will be invested in the hospital.
- Maintaining charity care levels for patients in need of financial assistance.
- Hiring all existing employees; maintaining physician base.
- Upholding the existing Collective Bargaining Agreement with JNESO.
- Honoring the Catholic Ethical & Religious Directives.
"This is a special day for St. Mary's Hospital, and its patients and employees," said Edward J. Condit, President & CEO of St. Mary's Hospital. "Prime Healthcare is patient focused and quality driven and will strengthen St. Mary's financially so that it can dedicate more of its resources to providing even better community care."
St. Mary's Hospital
St. Mary's Hospital is a non-profit, community-based tertiary medical center. It is an acute care hospital providing a broad range of cardiovascular services as well as a comprehensive program for cancer care. St. Mary's Hospital is also a center of excellence for maternal-child health and outpatient behavioral health services. With over 550 physicians and 1,200 employees, it is one of the largest employers in the county. Every member of the St. Mary's team is committed to providing compassionate, respectful, and personalized high quality care. Our goal is to satisfy patients' needs and exceed their expectations. St. Mary's Hospital is sponsored by the Sisters of Charity of Saint Elizabeth, Convent Station, NJ.
Prime Healthcare Services
Ontario, CA-based Prime Healthcare Services (www.primehealthcare.com), with a motto of "Saving Hospitals, Saving Jobs and Saving Lives," is one of the largest hospital companies in the nation.
Prime Healthcare was recognized as one of the "15 Top Health Systems" in the nation in 2013, based on quality of healthcare and patient satisfaction. It is the third time in six years it has been recognized. In 2014, eight Prime Healthcare hospitals were ranked among the "100 Top Hospitals" in the nation by Truven Health Analytics (formerly Thomson Reuters). Prime Healthcare hospitals have earned the award 27 times.
Through their subsidiaries, Prime Healthcare Services and the non-profit Prime Healthcare Foundation have more than 30,000 employees and own and operate 28 acute-care hospitals: Alvarado Hospital Medical Center, Centinela Hospital Medical Center, Chino Valley Medical Center, Desert Valley Hospital, Encino Hospital Medical Center, Garden Grove Hospital Medical Center, Glendora Community Hospital, Huntington Beach Hospital, La Palma Intercommunity Hospital, Montclair Hospital Medical Center, Paradise Valley Hospital, San Dimas Community Hospital, Shasta Regional Medical Center, Sherman Oaks Hospital and West Anaheim Medical Center – in California; Providence Medical Center and Saint John Hospital – in Kansas; Garden City Hospital – in Michigan; St. Mary's Hospital – in New Jersey; Saint Mary's Regional Medical Center – in Nevada; Lower Bucks Hospital and Roxborough Memorial Hospital – in Pennsylvania; Landmark Medical Center and Rehabilitation Hospital of Rhode Island – in Rhode Island; Dallas Medical Center, Harlingen Medical Center, Knapp Medical Center and Pampa Regional Medical Center – in Texas.
SOURCE Prime Healthcare Services