Cooper University Health Care has announced that it will no longer pursue the acquisition of Trinity Health’s New Jersey assets, including Our Lady of Lourdes Medical Center, Lourdes Medical Center of Burlington County, Willingboro, and St. Francis Medical Center, Trenton.
Cooper had signed a letter of intent Aug. 31 to acquire Trinity Health’s New Jersey hospitals.
“Our team has invested thousands of hours and millions of dollars in reviewing the proposed transaction,” Cooper CEO Adrienne Kirby said. “Based upon this review, unfortunately, we will not be able to consummate the contemplated transaction. We are all disappointed, but did not make this decision lightly.”
“The doctors, other clinicians and employees with whom Cooper and its team have interacted are among the finest and most dedicated group of individuals we have found in the health care industry, and we wish them well in their future endeavors,” Kirby continued.