A state Superior Court judge has approved the sale of the Saint Clare’s Health System to Prime Healthcare, the last step needed for the for-profit California chain to take over the operator of three northern New Jersey hospitals and other health care facilities.The sale is now expected to occur July 31, according to a news release issued Friday by Prime and Saint Clare’s.
The ruling by Judge Stephan C. Hansbury completes the state’s regulatory approval process, the news release said.
“We want to thank Judge Hansbury, the Office of the Attorney General and the Department of Health for their thorough review of the application and for the time and resources they have dedicated to it,” Dr. Prem Reddy, chairman, CEO and president of Prime, said in a prepared statement. “We’re pleased that Saint Clare’s will soon join St. Mary’s as part of our New Jersey health care system.”
RELATED: Health commissioner approves Saint Clare’s sale to Prime
The Saint Clare’s system includes hospitals in Boonton, Denville and Dover, plus other sites in Morris and Sussex counties. The transaction was valued at upward of $107 million, according to a letter in which state Health Commissioner Mary O’Dowd had previously expressed her approval of the deal.
“Today is a significant milestone in Saint Clare’s history and its future,” Leslie Hirsch, CEO and president of the health system, said in a statement. “I want to thank the Saint Clare’s board, physicians, staff, employees, volunteers and the communities we serve for their ongoing commitment and dedication to Saint Clare’s.
“I especially appreciate the hard work of Catholic Health Initiatives, our parent organization, and of Prime Healthcare for their combined support and efforts to secure the approvals that will lead to our transfer from CHI to Prime.”
The deal had previously been approved by both O’Dowd and the state attorney general’s office, necessary steps in the approval process.
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