Cooper University Health Care, Cape Regional Health System in NJ Announce Merger
Two large South Jersey healthcare organizations have signed a letter of intent to merge.
On Wednesday, Camden-based Cooper University Health Care and Cape Regional Health System in Cape May County announced that the two systems will become one to expand access to medical services across the region.
George E. Norcross, III, Chairman of Cooper University Health Care’s Board of Trustees, said in a statement,
For more than 135 years, Cooper has continued to expand its reach to provide advanced health care to the people of South Jersey. This merger of two trusted health care organizations will benefit tens of thousands of residents and visitors to Cape May County and strengthen the overall health care system in South Jersey.
While Garry Gilbert, Chairman of the Cape Regional Health System Board of Trustees, commented,
As it becomes more and more challenging for smaller health systems to operate independently, merging with Cooper made the most sense as we share the same commitment to the communities we serve and to providing the highest quality care to our patients.
According to a press release, once the merger is complete, the combined health system will feature,
- Two hospitals with more than 900 beds
- Revenue exceeding $2.2B annually
- More than 10,000 team members
- More than 900 employed physicians in three physician groups
- Over 130 ambulatory locations across eight counties
- Six urgent care centers
Cooper University Health Care has nearly 9,000 employees and Cooper University Hospital in Camden is the only level-one trauma center in South Jersey.
Cape Regional Health System serves residents and visitors throughout Cape May County. The system includes Cape Regional Medical Center, three urgent care facilities, and other medical facilities.
The Press of Atlantic City reports both organizations are working toward a definitive agreement by March. The merger must be approved by healthcare regulators and may not be finalized until 2024.