New Jersey nonprofits Atlantic Health and Saint Peter’s Healthcare System have called off plans to merge, citing changes in the national healthcare landscape for their mutual decision. The organizations had announced their intent to pursue a deal in early 2024, and had signed a definite agreement in June of the same year. The member substitution transaction would have brought Saint Peter’s under Atlantic Health, creating a system with more than $5 billion in annual revenue, based on each organization’s 2024 financial statements. “While disappointing, unfortunately, we have determined that this is the most appropriate path forward,” Saad Ehtisham, president and CEO of Atlantic Health, said in the announcement.
Read the full article: Atlantic Health, Saint Peter’s Healthcare System Cancel Merger Plans //
Source: https://www.fiercehealthcare.com/providers/atlantic-health-saint-peters-healthcare-system-cancel-merger-plans