Capital Health in Hopewell and St. Francis Medical Center, a member of Trinity Health, signed a non-binding Letter of Intent under which St. Francis Medical Center will become a part of Capital Health.
The goal of the non-binding LOI, announced May 6, is to work toward a definitive agreement that will create a more comprehensive and sustainable health care system for the surrounding community.
“From its founding as the city’s first hospital in 1874 to its important role as an acute care teaching hospital and Mercer County’s only provider of comprehensive cardiac surgery, St. Francis Medical Center has always put the needs of Trenton and surrounding neighborhoods first,” said Al Maghazehe, president and CEO of Capital Health in a prepared statement. “This approach aligns very well with Capital Health’s mission, and we are committed to our shared vision of providing the highest level of care for the community.”
St. Francis Medical Center Chairman Joseph Youngblood II said the deal is in response to a broad national transformation of health care.
“[W]e look to combine our strengths with those of Capital, a health care leader, and grow services for our residents. Together, we are steadfast in our commitment to provide area residents, including the underserved with high-quality, comprehensive care and to improve the delivery of health care for our community,” Youngblood said. “Our partnership with Capital Health will be a fitting legacy to the Sisters of St. Francis of Philadelphia for their decades of service to Trenton and Mercer County.”
Capital Health and St. Francis now enter a period of due diligence, which will include evaluation and discussion to determine how to best combine and enhance their capabilities. State and federal approval are necessary before the transaction is completed. The new combined system will be non-catholic.
Financial details were not disclosed.