Princeton HealthCare eyes merger, partnership
Renowned system says changing healthcare market forced the decision.
University Medical Center of Princeton (handout)
The Princeton HealthCare System said it is exploring a possible merger or partnership, according to the system’s board of trustees, though no potential partners have been named.
“We are now determining what type of partnership we might want and the criteria we will consider when evaluating potential partners,” according to the statement.
[Also: Tracking 2015 mergers and acquisitions]
The move reflects significant changes taking place in healthcare, including declining reimbursement under existing fee-for-service models to new value-based systems.
“Recognizing that there will be significant changes in reimbursement, care delivery and coordination, information and clinical technology and other areas over the next two to five years, we are engaged in a thorough and thoughtful strategic planning process to determine how we can best remain a leading provider of healthcare services,” Princeton HealthCare, which is based in New Jersey, stated.
Princeton HealthCare said it will keep the community informed of its progress.
Twitter: @SusanMorseHFN
