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Maxis Health System, an entity of Trinity Health, and Virtua Health have entered into a non-binding Letter of Intent regarding the possible acquisition by Virtua of The Lourdes Health System, including Our Lady of Lourdes Medical Center in Camden and Lourdes Medical Center of Burlington County, according to a media release issued on March 8, 2018.
The parties hope that they will be able to complete this transaction, which has the potential to achieve great benefits for healthcare in South Jersey. Further review is underway; there is no final agreement.
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Because of the very early in the due diligence process, the parties have no other information to provide at this time.
About Virtua:
As one of New Jersey’s largest, non-profit health systems, Virtua provides comprehensive health care services to achieve its mission to help people be well, get well and stay well. Virtua provides services through Virtua Medical Group with 500 physicians and other clinicians, and at its urgent care centers, hospitals, ambulatory surgery centers, health and wellness centers, fitness centers, home health services, long-term care and rehabilitation centers, and paramedic program.
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A leader in maternal and child health services, Virtua delivers nearly 8,000 babies a year. It provides health services to 1,500 businesses, and participates in Virtua Physician Partners, a clinically integrated network of 1,000 physicians and other clinicians. Virtua is affiliated with Penn Medicine for cancer and neuroscience and the Children’s Hospital of Philadelphia (CHOP) for pediatrics. It employs over 9,000 and has been honored as the #1 Best Place to Work in the Delaware Valley many times since 2007.
It is the recipient of a 4-star rating from the Centers for Medicare and Medicaid Services (CMS) for quality of care, and its hospitals earned straight A’s in patient safety by The Leapfrog Group and the 2016 Patient Safety Award from Healthgrades. U.S. News and World Report ranked Virtua’s Mount Holly and Voorhees hospitals as High Performing Hospitals and Voorhees as a Best Regional Hospital. Virtua is also the recipient of the Consumer Choice Award from the National Research Corporation. For more information, visit www.virtua.org or www.virtuabroadcastnetwork.org.
About Maxis/Trinity Health:
Maxis Health System is an entity of Trinity Health, one of the largest multi-institutional Catholic health care delivery systems in the nation, serving diverse communities that include more than 30 million people across 22 states. Trinity Health includes 93 hospitals, as well as 109 continuing care programs that include PACE, senior living facilities, and home care and hospice services. Its continuing care programs provide nearly 2.5 million visits annually. Based in Livonia, Mich., and with annual operating revenues of $17.6 billion and assets of $24.7 billion, the organization returns almost $1.1 billion to its communities annually in the form of charity care and other community benefit programs.
Trinity Health employs about 131,000 colleagues, including 7,500 employed physicians and clinicians. Committed to those who are poor and underserved in its communities, Trinity Health is known for its focus on the country’s aging population. In fact, Trinity Health is the nation’s leading provider of PACE (Program of All Inclusive Care for the Elderly) based on the number of available programs. For more information, visit www.trinity-health.org.
Lourdes Health System is a member of Trinity Health and is one of the region’s leading healthcare providers, recognized nationally for excellence in clinical care and service to the community. The health system has two acute care hospitals, several community-based ambulatory care centers, and an Accountable Care Organization (ACO), which has nearly 200 physicians and provides coordinated, comprehensive care across physician practices, hospitals and other healthcare providers.
Our Lady of Lourdes Medical Center is consistently ranked as among the top hospitals in the nation for heart care. It is the only hospital in New Jersey to ever have been awarded the American Hospital Association’s top honor for excellence in community outreach services. Lourdes Health System operates Our Lady of Lourdes School of Nursing; LIFE at Lourdes, a program for All-Inclusive Care of the Elderly (PACE); and various outreach programs. For more information, visit www.lourdesnet.org.