Court approves Cape Regional, Cooper Health merger

Initial plans announced in December 2022

Dawn Furnas//May 28, 2024//

Cooper University Health Care has opened the first phase of its $150 million outpatient campus at the site of a former Sears store in Moorestown Mall.

In November 2023, Cooper University Health Care opened the first phase of its $150 million outpatient campus at the site of a former Sears store in Moorestown Mall. - PROVIDED BY COOPER HEALTH

Cooper University Health Care has opened the first phase of its $150 million outpatient campus at the site of a former Sears store in Moorestown Mall.

In November 2023, Cooper University Health Care opened the first phase of its $150 million outpatient campus at the site of a former Sears store in Moorestown Mall. - PROVIDED BY COOPER HEALTH

Court approves Cape Regional, Cooper Health merger

Initial plans announced in December 2022

Dawn Furnas//May 28, 2024//

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A Cape May County Superior Court on May 28 approved Cape Regional Health System‘s planned merger with Cooper University Health Care, marking the final green light for the union, Cooper Health announced the same day.

The initial December 2022 announcement about the merger was followed by the providers’ signing of a definitive agreement in April 2023. Since then, the networks have ” worked diligently” to obtain necessary regulatory approvals, said Garry Gilbert, chairman of the Cape Regional board of trustees. 

“This historic agreement will provide the residents and visitors of Cape May and Atlantic Counties with greater access to more health care resources, innovative technologies, and specialists,” George Norcross III, chairman of ‘s board of trustees, said in a statement. 

The combined health system will have:  

  • Two hospitals with more than 900 licensed beds; 
  • Revenue exceeding $2.2 billion annually; 
  • Nearly 11,000 team members; 
  • More than 1,000 employed physicians in three physician groups; 
  • More than 550 advanced practice providers; 
  • More than 130 ambulatory locations across eight counties; and 
  • Six urgent care centers. 

 

“We are thrilled to have this final approval and look forward to joining Cooper University Health Care. Our respective health systems have a long history of working together to serve the residents and visitors of Cape May County,” said Cape Regional President and CEO Joanne Carrocino. 

Cooper’s co-CEOs also shared their relief and excitement over the court’s ruling.

Kevin O'Dowd and Anthony Mazzarelli
O’Dowd and Mazzarelli

“We are happy to have this final approval so we can finally focus on providing the highest quality of care to the residents and visitors at the shore,” said Dr. Anthony Mazzarelli.

“Today’s approval marks a moment of great promise, as two anchor institutions in the southern New Jersey region are now cleared to join forces to better serve communities across South Jersey,” added fellow co-CEO Kevin O’Dowd. “We look forward to working with our soon-to-be new colleagues to build upon their tremendous tradition of service to the residents and visitors of Cape May County.”

A representative for Cooper Health said it was too soon to share next steps since the court ruling was just announced. 

Major moves

The approval follows several positive announcements from Cooper Health, including earning an A+ from Fitch Ratings – the highest in the Camden-based health care provider’s 137-year history – and a credit upgrade from S&P Global Ratings to an A with a positive outlook, both announced in February. 

Additionally, the health care provider opened the first phase of its $150 million outpatient campus at Moorestown Mall in November 2023 (click here to take a look around). And perhaps the system’s greatest undertaking of late is its planned $2 billion expansion of its Camden campus.

More about the health networks

The Cooper Health Sciences campus in Camden is home to Cooper University Hospital, MD Anderson Cancer Center at Cooper, Children’s Regional Hospital at Cooper, and Cooper Medical School of Rowan University.

Cape Regional includes Cape Regional Medical Center, three urgent care facilities, Cape Regional Physicians Associates, the Thomas and Claire Brodesser, Jr., Cancer Center, the Claire C. Brodesser Surgery Center, the Jane Osborne Center, Cape Regional Home Health Care managed by BAYADA, Cape Regional Miracles Fitness as well as freestanding outpatient facilities.


Who else is joining forces?

In January, Atlantic Health System and Saint Peter’s Healthcare System signed a Letter of Intent, putting the providers on a path toward fully integrate the two organizations. Click here to read details.