Taken from NJBiz
October 10, 2019
By: Anthony Vecchione
Trinitas Regional Medical Center and RWJBarnabas Health announced on Thursday it has signed a Letter of Intent (LOI) whereby Trinitas and its affiliates will become a part of RWJBarnabas Health.
In a joint-press release, the two institutions said the non-binding LOI sets forth a basic structure for the proposed transaction and puts the institutions on a path toward reaching a Definitive Agreement, expected before the end of the year.
The LOI is the first step in the process of evaluating and designing a new relationship that will enhance health care services for residents in northern and central New Jersey.
Both parties said that they will now engage in a due diligence process to define the specifics of the relationship. Approvals will be necessary from State and Federal officials, the Catholic Church and others before the transaction is considered complete.
“I see our eventual move into the RWJBarnabas Health system as an extremely positive and exciting development for our institution – one that will give us the resources and opportunities to greatly enhance the already high level of care we provide to our community,” Trinitas President and Chief Executive Officer Gary Horan said in a statement.
RWJBarnabas Health has a service area of nine counties covering five million people. The system includes 11 acute care hospitals, three acute care children’s hospitals, and a pediatric rehabilitation hospital, among many other facilities. RWJBH has a partnership with Rutgers University, which created New Jersey’s largest academic health care system.
Trinitas Regional Medical Center is a 554-bed, Catholic, acute care teaching hospital located in Elizabeth. Trinitas provides care throughout the state to more than 400,000 patient contacts per year.
In 2000, Trinitas was created following the merger of Elizabeth General Medical Center and St. Elizabeth Hospital.