A Pennsylvania company has acquired two New Jersey hospitals as part of a deal for a North Carolina-based health care organization.
Select Medical, based in Mechanicsburg, has signed a definitive agreement to acquire Acuity Healthcare, based in Charlotte. The deal includes four long-term, acute care hospitals and one satellite location — two of which are in New Jersey and the other three of which are in West Virginia.
The deal will see the hospitals in Willingboro and Atlantic City renamed Select Specialty Hospital, and will establish joint venture partnerships with Virtua Health in Willingboro and AtlantiCare in Atlantic City, Select Medical said in a news release.
“This agreement represents Select Medical’s continued focus to execute strategic joint ventures as part of its growth strategy,” Tom Mullin, Select Medical’s executive vice president and chief operating officer of specialty hospitals, said in a prepared statement. “Together with our new partners, we look forward to serving the specialty care needs of chronic, critically ill patients in these emergent regions.”
The deal also includes hospitals in Morgantown and Weirton, West Virginia, along with a satellite location in Wheeling, West Virginia — plus related joint venture partnerships.
Select Medical will expand to 104 locations with the deal. The deal is expected to close in the third quarter, pending customary approvals and conditions.