Cooper University Health Care announced today that it will no longer pursue the acquisition of Trinity Health\u2019s New Jersey assets, including Our Lady of Lourdes Medical Center, Lourdes Medical Center of Burlington, and St. Francis Medical Center in Trenton. Cooper signed a Letter of Intent on August 31, 2017, to acquire Trinity Health\u2019s New Jersey hospitals.<\/p>\n
Since the Letter of Intent was executed, Cooper University Health Care has undertaken substantial and exhaustive due diligence with respect to the proposed transaction that included a comprehensive review of compliance, legal, regulatory, and operational issues.\u00a0 Based upon that review, Cooper University Health Care today announced that it has terminated the Letter of Intent and regretfully will not be proceeding with the previously announced transaction.<\/p>\n
Cooper CEO Adrienne Kirby stated, \u201cOur team has invested thousands of hours and millions of dollars in reviewing the proposed transaction. Based upon this review, unfortunately, we will not be able to consummate the contemplated transaction.\u00a0 We are all disappointed, but did not make this decision lightly.\u201d<\/p>\n
Kirby further commented, \u201cThe doctors, other clinicians, and employees with whom Cooper and its team have interacted, are among the finest and most dedicated group of individuals we have found in the healthcare industry and we wish them well in their future endeavors.\u201d<\/p>\n
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Wendy A. Marano
\nPublic Relations Manager
\nmarano-wendy@cooperhealth.edu
\n856.382.6463<\/p>\n","protected":false},"excerpt":{"rendered":"