Definitive Agreement Signed for Capital Health to Acquire St. Francis
Capital Health and St. Francis Medical Center, a member of Trinity Health, have entered into a definitive agreement to move forward with Capital Health’s acquisition of St. Francis Medical Center.
The addition of St. Francis Medical Center to the Capital Health network of health care services will result in an integrated, comprehensive, and sustainable non-profit health care system for communities in the greater Trenton area.
“Capital Health and St. Francis Medical Center have had a shared mission to support our community for more than a century,” said Al Maghazehe, President and CEO of Capital Health. “Over the last several years, as Capital Health has continued to grow and expand its geography, one thing I have been very clear on is our enduring commitment to Trenton. This undertaking demonstrates that and will be complemented by other significant investments Capital Health will make to develop programs focusing on the broader needs of our neighbors, bringing a holistic approach to their well-being. We are truly excited for this next chapter in health care for our region.”
The definitive agreement was reached after a non-binding letter of intent was signed in the spring and a subsequent due diligence period. The due diligence process evaluated how to enhance capabilities best and fulfill the organizations’ shared mission to serve the City of Trenton, surrounding communities, and their residents. The agreement will now move through required state and federal regulatory approvals, a review process that can take more than a year.
“In completing the due diligence process, we have concluded months of planning and discussion and can now start a plan to bring our organizations together with a goal of greater care options for the community,” said Daniel P. Moen, President and Chief Executive Officer, St. Francis Medical Center. “Serving our community is at the heart of each of our organizations, and it is through this shared mission and aligned approach to care that residents will receive improved access to high-quality care.”
As a result of the definitive agreement, Capital Health plans to offer an enhanced complement of integrated services with community and tertiary levels of care to more efficiently meet the needs of area residents. Preserving and strengthening healthcare services in Trenton will be a priority.
“The City of Trenton and the surrounding communities are a critical part of our shared mission to care for the underserved and I am extremely excited by what this agreement means for residents in the immediate community and the larger region,” said Samuel J. Plumeri Jr., Chairman, Capital Healthcare Inc., Board of Trustees. “The comprehensive model of care achieved will have a significant, positive impact on the health of our community.”
Capital Health’s acquisition of St. Francis will combine St. Francis’ specialized cardiac services with Capital Health’s specialized service lines, including neuroscience, trauma, cancer, maternity, and orthopedics, and preserving other critical programs in the areas of emergency and behavioral health services.
It will also align these complimentary services with Capital Health Medical Group, which includes more than 20 primary care practices and dozens of specialty practices throughout the region. In addition to St. Francis Medical Center, the acquisition will consist of related operations, including LIFE St. Francis, St. Francis Medical Associates, its Schools of Nursing and Radiologic Technology, and internal medical residency program.
Both hospitals are known for providing advanced care and ensuring local access to high-quality, affordable health care services. Throughout the regulatory process, Capital Health and St. Francis remain committed to sustaining and advancing the comprehensive, high-quality services they provide to residents of the greater Trenton area.
Powered by WPeMatico