Hackensack Meridian Health has purchased interests in three North Jersey nursing homes for $65 million, adding them to its health network, it announced this week.
An HMH official told ROI-NJ that HMH has purchased 100% interest in Regent Care Center in Hackensack, and a controlling interest in both Prospect Heights Care Center in Hackensack and West Caldwell Care Center in West Caldwell, from previous owner Tandem Management.
“Hackensack Meridian Health is committed to improving access to high-quality long-term and subacute care for patients and families across New Jersey,” Robert Garrett, HMH’s CEO, said in a prepared statement. “We are excited to have these three facilities join our network, and this merger will elevate the standard of care for residents across the communities we serve.”
The nursing homes will be renamed in the wake of the merger, HMH said in a news release:
- Prospect Heights Care Center will be renamed Hackensack Meridian Health Prospect Heights Care Center;
- Regent Care Center will be renamed Hackensack Meridian Health Nursing and Rehabilitation; and
- West Caldwell Care Center will be renamed Hackensack Meridian Health West Caldwell Care Center.
Combined, they have approximately 600 beds and 750 employees. The price tag includes cash and debt assumed, HMH noted.
The Tandem executive team will join HMH’s postacute management company, and the health system is preparing the three facilities for growth and recruiting additional employees, the official said. The system’s postacute care portfolio now includes 13 skilled nursing facilities and four senior living facility, as well as a home care agency.
“We are redefining the standard of senior living with our outstanding services, premier facilities and state-of-the-art accommodations,” Stephen Baker, HMH’s president of postacute care, said in a statement. “We look forward to having Prospect Heights Care Center, Regent Care Center and West Caldwell Care Center join Hackensack Meridian Health to further enhance the compassionate and professional care that sets us apart from other long-term and subacute care facilities.”