Partnership Saves More than a 1,000 Jobs and a Critical Safety-Net Hospital
(Ontario, CA) - Prime Healthcare announced on August 15th that it has completed
its acquisition of St. Mary's Hospital in Passaic, New Jersey. Prime
Healthcare is committed to investing more than $80 million into St Mary's
Hospital, which serves Passaic, Clifton, Wallington, Carlstadt, Rutherford/East
Rutherford, and many other surrounding towns.
"Prime Healthcare is excited about its first partnership with a hospital
in New Jersey and looks forward to helping St. Mary's Hospital provide
the exceptional patient care residents of Passaic and the surrounding
communities want and deserve," said Prem Reddy, M.D., FACC, FCCP,
Chairman, President and CEO of Prime Healthcare Services. "Prime
Healthcare's motto is 'Saving Hospitals, Saving Jobs and Saving
Lives,' and we plan to continue that at St. Mary's and help it
become one of the best hospitals in the state and in the country."
Some of the key points of the acquisition will include:
- St. Mary's will continue as an acute care facility with all its current services.
- $30 million in capital improvements will be invested in the hospital.
- Maintaining charity care levels for patients in need of financial assistance.
- Hiring all existing employees; maintaining physician base.
- Upholding the existing Collective Bargaining Agreement with JNESO.
- Honoring the Catholic Ethical & Religious Directives.
"This is a special day for St. Mary's Hospital, and its patients
and employees," said Edward J. Condit, President & CEO of St.
Mary's Hospital. "Prime Healthcare is patient focused and quality
driven and will strengthen St. Mary's financially so that it can dedicate
more of its resources to providing even better community care."
Prime Healthcare Services
Ontario, CA-based Prime Healthcare Services (www.primehealthcare.com),
with a motto of "Saving Hospitals, Saving Jobs and Saving Lives,"
is one of the largest hospital companies in the nation.
Prime Healthcare was recognized as one of the "15 Top Health Systems"
in the nation in 2013, based on quality of healthcare and patient satisfaction.
It is the third time in six years it has been recognized. In 2014, eight
Prime Healthcare hospitals were ranked among the "100 Top Hospitals"
in the nation by Truven Health Analytics (formerly Thomson Reuters). Prime
Healthcare hospitals have earned the award 27 times.
Through their subsidiaries, Prime Healthcare Services and the non-profit
Prime Healthcare Foundation have more than 30,000 employees and own and
operate 28 acute-care hospitals: Alvarado Hospital Medical Center, Centinela
Hospital Medical Center, Chino Valley Medical Center, Desert Valley Hospital,
Encino Hospital Medical Center, Garden Grove Hospital Medical Center,
Glendora Community Hospital, Huntington Beach Hospital, La Palma Intercommunity
Hospital, Montclair Hospital Medical Center, Paradise Valley Hospital,
San Dimas Community Hospital, Shasta Regional Medical Center, Sherman
Oaks Hospital and West Anaheim Medical Center - in California; Providence
Medical Center and Saint John Hospital - in Kansas; Garden City Hospital
- in Michigan; St. Mary's Hospital - in New Jersey; Saint Mary's
Regional Medical Center - in Nevada; Lower Bucks Hospital and Roxborough
Memorial Hospital - in Pennsylvania; Landmark Medical Center and Rehabilitation
Hospital of Rhode Island - in Rhode Island; Dallas Medical Center, Harlingen
Medical Center, Knapp Medical Center and Pampa Regional Medical Center
- in Texas.