The two health systems will operate in co-ownership to reach patients across New Jersey.
A month after signing a letter of intent to expand their collaboration into co-ownership, Atlantic Health System and CentraState Healthcare System reached a definitive agreement on Wednesday.
"[The partnership] extends our opportunities to touch more lives in New Jersey. … It's a way to continue to develop our network, [and] to truly partner with another great organization that shares a similar view of the future," Atlantic Health System President and CEO Brian Gragnolati told HealthLeaders in a previous interview.
According to the press release, "the terms of the Definitive Agreement allow the two organizations to pursue joint venture opportunities, including ambulatory services and other population health strategies, which will make care more accessible, affordable and convenient for residents in the communities served by CentraState."
The two New Jersey–based health systems hope "to improve the health of residents across northern and central New Jersey," through a number of initiatives, according to the press release.
Both health systems will "invest and implement" a new EHR platform for CentraState Healthcare System, so both organizations can share medical records across the two systems that can be accessed from the patient portal.
CentraState physicians will also have "the opportunity to participate in [Atlantic Health System's] affiliated physician group practices and programs, including risk-based contracting initiatives."
"We are excited to deliver our shared mission of advancing the health of our communities, and confident this innovative partnership positions both organizations for continued success and growth,” said CentraState Healthcare System President and CEO John T. Gribbin in a statement.
"The swift progress we have made with CentraState on this latest partnership shows how effective we can be together in delivering innovative and high-quality care for New Jersey’s residents and families," Gragnolati said in a statement. "I am thrilled to see all that we can accomplish when we work together to put patients first."
Melanie Blackman is a contributing editor for strategy, marketing, and human resources at HealthLeaders, an HCPro brand.
Photo credit: Morristown Medical Center Health Pavilion, Morristown, NJ. Photo courtesy of Atlantic Health System.