Merger Glossary

Acquisition (per CHAPA law) – any acquisition by a person of an ownership or controlling interest in a nonprofit hospital, whether by purchase, merger, lease, joint venture, transfer, gift, or otherwise

CHAPA – Community Health Care Assets Protection Act (N.J.S.A. 26:2H-7.10 et seq.), governs nonprofit hospital transactions
CMS – Center for Medicare and Medicaid Services

CN – Certificate of Need (N.J.A.C. 8:33), NJ Department of Health Commissioner approval needed to open, close, or sell hospitals, or change services offered in hospitals (does not cover nonprofit mergers/affiliations where no money is exchanged). In some states this is known as a CON

DOH – Department of Health

FTC – Federal Trade Commission, investigates mergers that may violate federal antitrust laws. Section 7 of the Clayton Act prohibits mergers and acquisitions when the effect “may be substantially to lessen competition, or to tend to create a monopoly,” generating anti-competitive conditions

LOI – Letter of Intent, filed by the merging parties giving a general outline of expectations of the two merging entities

MOA – Memorandum of Agreement, filed by the merging parties giving a general outline of expectations of the two merging entities

OAG – Office of the Attorney General

OPRA – Open Public Records Act, New Jersey’s state equivalent to the federal Freedom of Information Act (FOIA), where anyone can file a request for state documents (NJSA 47:1A et seq.)

 

 

 

News

Virtua to Acquire The Lourdes Health System
Jun 07 2018

Taken from the TapInto Camden, June 5, 2018 Camden, NJ—Virtua Health has signed an agreement to acquire Lourdes Health System from Trinity Health, including Our Lady of Lourdes Medical Center in Camden. The boards of Virtua Health and Maxis Health System, an

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Sale of Meadowlands Hospital Receives Final Approval
Dec 18 2017

The state has approved the sale of Meadowlands Hospital Medical Center, the Secaucus hospital where admissions have plummeted under private ownership, to a multimillionaire real-estate developer who owns a Bergen County surgical center. 

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HPAE Raises Concerns About HMH-JFK Merger
Oct 31 2017

Last night a dozen HPAE members and staff attended a public hearing on the affiliation of JFK Medical Center with Hackensack Meridian Health (HMH). If the merger goes through, HMH will own 15 hospitals in the state of New Jersey.

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Merger With Hackensack Health System Completed
Mar 02 2016

Palisades Medical Center and The Harborage are now officially part of the Hackensack Health System. Palisades Medical Center will be called HackensackUMC Palisades. HPAE has issued a press release on the merger, including the following comment from Local 5030 President Michele

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Thats all, folks - no more news!

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