{"id":13153,"date":"2023-04-25T11:30:26","date_gmt":"2023-04-25T15:30:26","guid":{"rendered":"https:\/\/blogs.cooperhealth.org\/news\/?p=13153"},"modified":"2023-04-25T11:37:54","modified_gmt":"2023-04-25T15:37:54","slug":"cooper-university-health-care-and-cape-regional-health-system-sign-definitive-agreement-to-merge","status":"publish","type":"post","link":"https:\/\/blogs.cooperhealth.org\/news\/2023\/04\/cooper-university-health-care-and-cape-regional-health-system-sign-definitive-agreement-to-merge\/","title":{"rendered":"Cooper University Health Care and Cape Regional Health System Sign Definitive Agreement to Merge"},"content":{"rendered":"

\"\"(CAMDEN and CAPE MAY, NJ) \u2013 Cooper University Health Care and Cape Regional Health System announced today that the two systems have signed a Definitive Agreement moving the merger announced in December one step closer to fruition. When complete, this historic combination will bring together two respected health systems to expand access to specialty health services to residents and visitors of Cape May County.<\/p>\n

“The signing of this Definitive Agreement to merge is an important milestone in bringing together two of the region’s most trusted health systems. I want to thank everyone who has worked so hard to bring Cooper and Cape Regional to this point because I know that, together, we will do great things for the residents and visitors to Cape May County and patients across South Jersey,” said George E. Norcross III, Chairman of Cooper University Health Care\u2019s Board of Trustees.<\/p>\n

\u201cWe are very excited to take our relationship with Cooper to the next level, as we share the same vision to provide the highest quality health care to our communities,\u201d stated Garry Gilbert, Chairman, Cape Regional Health System Board of Trustees.<\/p>\n

The execution of the Definitive Agreement came after two months of due diligence review and work between the health systems. It demonstrates the organizations\u2019 ability to work together and is a major step forward for the merger. The next step in the merger process will be to obtain necessary regulatory approvals, which should take approximately one year.<\/p>\n

\u201cThe signing of this Definitive Agreement is a testament to the strong working relationship that Cape Regional and Cooper have developed over many years of working together to serve the residents and visitors of Cape May County,\u201d stated Joanne Carrocino, FACHE, President and CEO, Cape Regional Health System. \u201cIt is truly an exciting advancement for both of our organizations.\u201d<\/p>\n

Cooper, with its market-leading MD Anderson Cancer Center at Cooper<\/a>, is based in the City of Camden and is southern New Jersey\u2019s only academic health system and Level I trauma center, with $2 billion in revenue. Cape Regional Health System has earned the Gold Seal of Approval from the Joint Commission and is an integrated health care delivery system serving residents throughout Cape May County.<\/p>\n

\u201cA great deal of work has been done by both teams to get us to this point and we are optimistic that we will be able to complete this transaction and bring additional advanced cancer and specialty health care services to local residents close to where they live,\u201d said Dr. Anthony Mazzarelli, co-CEO of Cooper.<\/p>\n

\u201cToday, we are incredibly proud to announce this important next step in bringing together two anchor institutions in the southern New Jersey region,\u201d said Kevin O\u2019Dowd, co-CEO of Cooper. \u201cWe look forward to working with our future colleagues at Cape Regional to build upon their tremendous tradition of service to the residents and visitors of Cape May County.\u201d<\/p>\n

The combined health system will have:<\/p>\n