Capital Health and St. Francis Medical Center Sign Definitive Agreement for Capital Health to Acquire St. Francis

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Jan 19, 2022, 12:00 ET

TRENTON, N.J., Jan. 19, 2022 /PRNewswire/ -- Capital Health and St. Francis Medical Center, a member of Trinity Health, have entered into a definitive agreement to move forward with Capital Health's acquisition of St. Francis Medical Center.

The addition of St. Francis Medical Center to the Capital Health network of health care services will result in an integrated, comprehensive, and sustainable non-profit health care system for communities in the greater Trenton area.

The definitive agreement was reached after a non-binding letter of intent was signed in the spring and a subsequent due diligence period. The due diligence process evaluated how to best enhance capabilities and fulfill the organizations' shared mission to serve the City of Trenton, surrounding communities, and their residents. The agreement will now move through required state and federal regulatory approvals, a review process that can take more than a year.

"Capital Health and St. Francis Medical Center have had a shared mission to support our community for more than a century," said Al Maghazehe, President and CEO of Capital Health.

"Over the last several years, as Capital Health has continued to grow and expand its geography, one thing I have been very clear on is our enduring commitment to Trenton. This undertaking demonstrates that and will be complemented by other significant investments Capital Health will make to develop programs focusing on the broader needs of our neighbors, bringing a holistic approach to their well-being. We are truly excited for this next chapter in health care for our region."

"In completing the due diligence process, we have concluded months of planning and discussion and can now start a plan to bring our organizations together with a goal of greater care options for the community," said Daniel P. Moen, President and Chief Executive Officer, St. Francis Medical Center. "Serving our community is at the heart of each of our organizations, and it is through this shared mission and aligned approach to care that residents will receive improved access to high-quality care."

As a result of the definitive agreement, Capital Health plans to offer an enhanced complement of integrated services with community and tertiary levels of care to more efficiently meet the needs of area residents. Preserving and strengthening healthcare services in Trenton will be a priority. Capital Health's acquisition of St. Francis will combine St. Francis' specialized cardiac services with Capital Health's specialized service lines including neuroscience, trauma, cancer, maternity, and orthopedics, as well as preserving other critical programs in the areas of emergency and behavioral health services. It will also align all of these complementary services with Capital Health Medical Group, which includes more than twenty primary care practices and dozens of specialty practices throughout the region. In addition to St. Francis Medical Center, the acquisition will include related operations, including LIFE St. Francis, St. Francis Medical Associates, its Schools of Nursing and Radiologic Technology, and internal medical residency program.

"The City of Trenton and the surrounding communities are a critical part of our shared mission to care for the underserved and I am extremely excited by what this agreement means for residents in the immediate community and the larger region," said Samuel J. Plumeri Jr., Chairman, Capital Healthcare Inc., Board of Trustees. "The comprehensive model of care achieved will have a significant, positive impact on the health of our community."

"This definitive agreement demonstrates our steadfast commitment to provide area residents, including the underserved, with high-quality, comprehensive care," said Joseph Youngblood, II, J.D., Ph.D., chairman, Board of Trustees, St. Francis Medical Center. "The Trustees of St. Francis Medical Center spent countless hours identifying the best solution to continue the mission of the Sisters of St. Francis to provide health care in the City of Trenton. Our strengths, coupled with those of Capital Health, a regional health care leader, will improve services for residents by offering a fully integrated network of services in the City of Trenton. The result will be improved access and delivery of care for area residents."

Both hospitals are known for providing advanced care and for ensuring local access to high-quality, affordable health care services.

Throughout the regulatory process, Capital Health and St. Francis remain committed to sustaining and advancing the comprehensive, high-quality services they provide to residents of the greater Trenton area.

ABOUT CAPITAL HEALTH
Capital Health is the Central New Jersey/Lower Bucks County region's leader in providing progressive, quality patient care with significant investments in physicians, nurses and staff, as well as advanced technology. Comprised of two hospitals (Capital Health Regional Medical Center in Trenton and Capital Health Medical Center – Hopewell), a Hamilton outpatient facility, and an extensive network of primary and specialty care practices across the region, Capital Health is a dynamic health care resource accredited by DNV.

A four-time Magnet-designated health system for nursing excellence, Capital Health serves as a Level II regional trauma center, regional perinatal center (including a Level III NICU), and emergency mental health screening center. Capital Health also offers the region's first and most experienced Pediatric Emergency Department and most recently, New Jersey's first Autism- Friendly Pediatric Emergency Department. Capital Health also provides innovative programs such as Capital Institute for Neurosciences including its certified Comprehensive Stroke Center; nationally accredited Center for Comprehensive Breast Care; Center for Digestive Health; Marjorie G. Ernest Joint Replacement Center of Excellence; award-winning Cancer Center; and the Heart & Vascular Institute, which includes the region's first accredited Chest Pain Center.

For more information, visit www.capitalhealth.org.

ABOUT ST. FRANCIS MEDICAL CENTER
Accredited by The Joint Commission, St. Francis Medical Center has a long history of providing care to the community, having served Central Jersey residents for nearly 150 years. As an acute-care teaching hospital, St. Francis Medical Center, a member of Trinity Health, is known as the region's Heart Hospital. St. Francis is the only facility in Mercer County with a state- issued certificate of need to perform cardiac surgery, including open-heart surgery as well as minimally invasive, robotic heart surgery. The Center of Excellence for Heart Health also provides high-level cardiac catheterization, angioplasty services, sophisticated ablation and heart arrhythmia treatments and advanced diagnostics. St. Francis regional services also include its award-winning Stroke Program, as well as Emergency Services, Sleep Disorder Center, Behavioral Health Inpatient Service and HIV Program. It is a teaching hospital offering an internal medical residency program through Jersey Shore University Medical Center, as well as a School of Nursing and a School of Radiologic Technology. St. Francis' partner in care is LIFE St. Francis (Living Independently For Elders), a program for the all-inclusive care of the elderly based in Bordentown, NJ. For more information, visit www.stfrancismedical.org.

ABOUT TRINITY HEALTH
Trinity Health is one of the largest not-for-profit, Catholic health care systems in the nation, serving diverse communities that include more than 30 million people across 25 states. Trinity Health includes 88 hospitals, as well as 125 urgent care locations, 131 continuing care locations that include PACE (Program of All Inclusive Care for the Elderly) programs—offering the second largest PACE program in the country, senior living facilities, home care and hospice, and many other health and well-being services. Its continuing care programs provide nearly 2.5 million visits annually. Based in Livonia, Michigan, and with annual operating revenues of $20.2 billion, the organization returns $1.2 billion to its communities annually in the form of charity care and other community benefit programs. The Trinity Health family includes about 115,000 colleagues and nearly 26,000 physicians and clinicians. Committed to those who are poor and underserved in its communities, Trinity Health is known for its focus on the country's aging population. As a single, unified ministry, the organization is the innovator of Senior Emergency Departments, the largest not-for-profit provider of home health care services — ranked by number of visits — in the nation, as well as the nation's leading provider of PACE based on the number of available programs. For more information, visit trinity-health.org. You can also follow Trinity Health on LinkedIn, Facebook or Twitter.

SOURCE Capital Health