April 27, 2016 – Hackettstown Regional Medical Center officially became part of Atlantic Health System earlier this month, completing the 111-bed acute care hospital’s transfer of ownership from Adventist HealthCare. The Adventist HealthCaretransfer of ownership allows Atlantic Health System to build connections between the renamed Hackettstown Medical Center and the organization’s other facilities, providing the community with seamless access to healthcare services and enhancing the quality, effectiveness and continuity of care for patients.
Recognizing the demands of a changing healthcare landscape across the nation, leadership at Adventist HealthCare sought to position the hospital to succeed in an environment of healthcare reform. This called for affiliating Hackettstown with a health system in its own region that could supply a strong New Jersey presence and an expanded regional network of services, physicians, and other care providers. Adventist HealthCare retained Cain Brothers as its exclusive financial advisor to manage the affiliation process, assist with due diligence, and help negotiate the terms of the transaction.
Adventist HealthCare is a non-profit health organization based in Gaithersburg, Maryland, with four hospitals and numerous other health facilities and services in the Washington, D.C. region. Hackettstown Regional Medical Center was the only Adventist HealthCare facility outside of the D.C. region.
Atlantic Health System, headquartered in Morristown, New Jersey, is one of the largest non-profit health care systems in New Jersey, comprised of six acute care hospitals and associated health care services.
For more information please contact:
Carsten Beith
Managing Director
(312) 604 0500
cbeith@cainbrothers.com
Andy Labovitz
Senior Vice President
(212) 981 6940
alabovitz@cainbrothers.com
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