Saint Michael's Still Awaits State Approval for Hospital Sale to Prime
Saint Michael's and Prime Healthcare signed an Asset Purchase Agreement
(APA) in February 2013. More than two years later, the hospital is still
awaiting state approval, so it can move forward with this transaction
and continue to provide high-quality healthcare to the residents of the
greater Newark area.
Support the Sale of Saint Michael’s Medical Center’s to Prime
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Saint Michael's Releases Second Round of Findings Concerning the Navigant Report
Saint Michael’s Medical Center today released a second round of findings
concerning the state-commissioned report by Navigant Consulting recommending
the consolidation and closing of healthcare facilities in Newark. According
to the supplemental report, thousands of Newark residents would be forced
to seek hospital care outside of the city if the flawed recommendations
were to be enacted. In Navigant’s own words, these patients would
be “redistributed” out of the city.
In April, Saint Michael’s issued its initial response to the Navigant
recommendations, citing the recommendations’ potential to create
a “healthcare monopoly,” leading to as much as $180 million
in increased prices for hospital care in Newark. The full report is available
The supplemental report assesses, in greater detail, both the impact on
patient access within the city limits and the further increase in healthcare
costs that would result from Navigant’s recommendations. The supplemental
report is available
Securing a Vibrant for Saint Michael's Medical Center
Saint Michael's Medical Center has faithfully served the greater Newark
community for nearly 150 years. In recent years the medical center has
struggled to meet the financial challenges of today’s rapidly changing
healthcare landscape and in 2012, set out to find a solution to sustain
the medical center’s mission and help it flourish both financially
After an extensive solicitation and competitive review process, Saint Michael’s
Medical Center conducted negotiations with a number of entities that expressed
interest in purchasing the medical center. This competitive process was
managed by Catholic Health East leadership in concert with Bank of America
Merrill Lynch (BAML).
Prime Healthcare was selected as the most viable option to financially
stabilize and secure a vibrant future for Saint Michael’s Medical
Center, ensuring it not only remains open as an acute-care facility, but
also grows and prospers.
Prime Healthcare Services is the Right Partner for Saint Michael’s
Shared Commitment to Make Saint Michael’s One of the Best in
- Prime Healthcare will provide financial stability to ensure the medical
center not only remains open as an acute-care facility, but grows and prospers.
- Prime brings the necessary resources and award-winning expertise to revitalize
Saint Michael’s Medical Center and continue the medical center’s
healing mission for residents of the greater Newark community.
Shared Commitment to Saving Jobs
- Prime Healthcare’s motto is "Saving Hospitals, Saving Jobs and
- The medical center currently employs more than 1,400 nurses, allied health
professionals, and staff.
- The medical center is home to 500 physicians.
- The medical center employs more than 80 residents and fellows.
- Prime has pledged to hire substantially all Saint Michael’s employees
and physicians in good standing at the time the sale is finalized.
Shared Commitment to Charity Care
- Prime is committed to seeing Saint Michael's continue its ministry
for many years to come.
- Prime will continue to provide charity care at levels similar to those
that are currently provided by Saint Michael’s.
- Prime will uphold the Ethical and Religious Directives for Catholic Health
Care that has informed our care.
- Since 2010, Prime Healthcare has spent more than $2 billion in charity
and uncompensated care.
Shared Commitment to Quality
- Prime hospitals have been recognized among the “100 Top Hospitals”
in the nation 27 times by Truven Health Analytics (formerly, Thomson Reuters).
- Prime Healthcare has been recognized as one of the “15 Top Health
Systems” in the nation three times.
- The Joint Commission, the largest Medicare accreditation organization in
the nation, ranked eight Prime Healthcare hospitals as “Top Performers
on Key Quality Measures” in 2013.
Shared Commitment to Improving Patient Care and Experience
- Prime Healthcare will invest at least $25 million on capital improvements
beyond routine replacements and additions.
- Prime’s investments will give patients access to state-of-the-art
facilities and medical equipment.
- Prime will continue to serve Medicare patients.