St. Joseph’s Health announced Friday it is searching for a partnership arrangement with another health care system.
The system will remain a Catholic organization under any agreement, it said in a statement.
“Our strong market position and recognized quality of care makes us a desirable partner for many health systems in the region,” said Kevin Slavin, CEO and president of St. Joseph’s Health. “Our goal through this process is to determine whether there is a right fit with an organization that shares our commitment to the community and vision for the future.”
An appointed partnership committee will evaluate all pitches.
“Collaborative partnerships among hospitals help to improve health care delivery overall,” said Sister Marilyn Thie, chair of the St. Joseph’s Health Board of Trustees. “We are proud of our 150-year history. Retaining our Catholic identity will be foremost in our considerations, along with organizational culture and values, as well as the intent to invest in St. Joseph’s and its surrounding communities, serving especially those most in need.”
The move is an increasingly popular one, as independent systems and providers seek to remain as such.
But some Catholic entities have folded in mergers, including the recently announced intended acquisition of Lourdes Health System by Virtua Health.
St. Clare’s in Denville and Saint Michael’s Medical Center in Newark recently folded under for-profit Prime Healthcare.
“This is an exciting announcement that can benefit Passaic County residents in many ways,” said Assemblywoman Shavonda E. Sumter (D-Paterson). “St. Joseph’s has a long and enviable record of serving our local residents, coupled with an outstanding reputation for providing quality care. The right partnership will ensure the health system remains strong and continues to thrive.”
Read more from ROI-NJ:
- 3 months after LOI, Virtua signs definitive agreement to buy Lourdes Health System
- St. Joseph’s ALTO opioids program to go national