Building on a history of successful collaboration to improve the health of residents across northern and central New Jersey, CentraState Healthcare System and Atlantic Health System have signed a Letter of Intent to create a unique model for health system co-ownership. Upon completion of this expanded partnership, Atlantic Health will become the majority corporate member in CentraState and CentraState will join the Atlantic Health System network of care.
Under the new model, both systems will hold seats on a single CentraState governing board, each with specific rights and responsibilities. This next step in the joining of these two highly respected organizations will immediately benefit patients, physicians and caregivers in the communities served by CentraState by strengthening its integrated clinical services, physician network and infrastructure through significant capital investments, outlined in a five-year plan endorsed by both system’s boards. The CentraState board and leadership team, led by John T. Gribbin, will continue to oversee system operations and ensure the continued advancement of its mission to enhance health and well-being through the compassionate delivery of quality health care.
Earlier this year, CentraState and Atlantic Health expanded oncology and neuroscience care for central Jersey residents through a clinical affiliation that has improved access to nationally recognized specialists and enhanced coordination of clinical and research activities. This affiliation expanded upon the systems’ existing relationship in the Healthcare Transformation Consortium, designed to provide broader and more affordable health insurance to employees across New Jersey.
This latest venture between two of the state’s leading health systems is a clear reflection of their shared mission and values. Both are grounded by strong ties to their local communities, along with longstanding commitments to clinical excellence, engaged physician leadership, and value-based strategies to improve access to high quality, affordable health care. Both systems also take great pride in their exceptional workplace cultures that value the contributions of every team member while promoting award-winning innovation and compassionate care.
“After two years of study, we invited AHS to be a co-member of CentraState because we firmly believe that they share the values, philosophy and commitment to community that is the hallmark of CentraState,” said John T. Gribbin, Centrastate President and CEO. “Our organizations align in mutually beneficial ways, with the constant focus on a common culture of commitment to our patients, physicians and employees.”
“We are thrilled to partner with CentraState to support their longstanding commitment to the community and make this investment in the health and well-being of New Jersey’s residents and families,” said Brian Gragnolati, President and CEO, Atlantic Health System. “Having worked closely over the past few years with the CentraState team, we feel fortunate for this opportunity to combine our talents and resources to deliver high quality, affordable and accessible care for patients across the State.”
Both organizations will now engage in a due diligence process, working towards a definitive agreement, which will define the specifics of their future relationship. Approvals will be necessary from state and federal officials before the transaction can be considered complete.
ABOUT CENTRASTATE
CentraState Healthcare System is a fully accredited, not-for-profit, community-based health system that provides comprehensive health services in the central New Jersey region. In addition to offering a full range of leading-edge diagnostic and treatment options, CentraState serves as a valuable health partner focused on the latest ways to prevent disease, promote healthy behaviors, and help people of all ages live life well. Based in Freehold, CentraState is comprised of a 284-bed acute-care hospital, a vibrant health and wellness campus, three award-winning senior living communities, a charitable foundation, and four convenient satellite health pavilions. The system also offers a family medicine residency and geriatric fellowship training program in affiliation with Rutgers Robert Wood Johnson Medical School. Among its many honors and accreditations, CentraState is one of only 2 percent of hospitals nationwide to earn Magnet® designation for nursing excellence four times. To learn more, visit centrastate.com.
ABOUT ATLANTIC HEALTH SYSTEM
Atlantic Health System is at the forefront of medicine, setting standards for quality health care in New Jersey, Pennsylvania and the New York metropolitan area. Powered by a workforce of almost 17,000 team members and 4,800 affiliated physicians dedicated to building healthier communities, Atlantic Health System serves more than half of the state of New Jersey including 11 counties and 4.9 million people. The system offers more than 400 sites of care, including seven hospitals: Morristown Medical Center in Morristown, NJ, Overlook Medical Center in Summit, NJ, Newton Medical Center in Newton NJ, Chilton Medical Center in Pompton Plains, NJ, Hackettstown Medical Center in Hackettstown, NJ, Goryeb Children’s Hospital in Morristown, NJ, and Atlantic Rehabilitation Institute in Madison, NJ.
Atlantic Medical Group, comprised of 1,000 physicians and advanced practice providers, represents one of the largest multi-specialty practices in New Jersey and joins Atlantic Accountable Care Organization and Optimus Healthcare Partners as part of Atlantic Alliance, a Clinically Integrated Network of more than 2,500 health care providers throughout northern and central NJ.
Atlantic Health System provides care for the full continuum of health care needs through 16 urgent care centers, Atlantic Visiting Nurse and Atlantic Anywhere’s Virtual Visits. Facilitating the connection between these services on both land and air is the transportation fleet of Atlantic Mobile Health.
Atlantic Health System leads the Healthcare Transformation Consortium, a partnership of seven regional hospitals and health systems dedicated to improving access and affordability and is a founding member of the PIER Consortium – Partners in Innovation, Education, and Research – a streamlined clinical trial system that will expand access to groundbreaking research across seven health systems in New Jersey.
Atlantic Health System has a medical school affiliation with Thomas Jefferson University and is home to the regional campus of the Sidney Kimmel Medical College at Morristown and Overlook Medical Centers and is the official health care partner of the New York Jets.
MEDIA INQUIRIES
For media inquiries, please contact Lori Palmer, Director of Public Relations & Communications, at 732.294.7082 or lpalmer@centrastate.com