Prime Healthcare Completes Acquisition of St. Mary's Hospital in Passaic, New Jersey

Prime Healthcare Completes Acquisition of St. Mary's Hospital in Passaic, New Jersey -

Premier Healthcare announced today that it has completed the acquisition of St. Mary's hospital in Passaic, New Jersey.

Prime Healthcare is committed to investing more than $ 80 million in St Mary's Hospital, which serves Passaic, Clifton, Wallington, Carlstadt, Rutherford / East Rutherford and many other surrounding towns.

"First Healthcare is excited about his first partnership with a hospital in New Jersey and is eager to help St. Mary's Hospital provide care to residents exceptional patient Passaic and surrounding communities want and deserve, "said Prem Reddy, MD, FACC, FCCP, Chairman, President and CEO of Prime Healthcare services. "The motto of Prime Healthcare is" Saving Hospitals, Saving Jobs and save lives, "and we plan to continue this in St. Mary 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 be:

• St. Mary 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.
• hire all existing employees; maintaining the doctor basis.
• Retaining the existing collective agreement with JNESO.
• Honoring the ethical and religious Catholic directives.

"This is a special day for St. Mary Hospital and its patients and employees," said Edward J. Condit, chairman and CEO of St. Mary's Hospital. "Prime Healthcare is patient focused and quality driven and strengthen St. Mary financially so that he could devote more of its resources to provide better community care."