Member News

Virtua Acquires Lourdes Health System
 
07/10/2019 03:39 PM

Marlton, N.J. - Effective July 1, 2019, Virtua has assumed ownership of Lourdes Health System, a transaction that reshapes health care in South Jersey. With its expanded portfolio of services and facilities, Virtua has amplified its reach and reinforced its capacity to provide comprehensive, trusted care that is close-to-home and convenient for residents of Burlington, Camden, and Gloucester counties and beyond. “Today is the culmination of many months of planning and preparation, and now we can begin the process of building a better, healthier future for the people of South Jersey,” said Dennis W. Pullin, FACHE, president and CEO of Virtua. “The best interest of the community has been the driving force behind this process and it will be our cornerstone moving forward.” The integration of the two not-for-profit health systems combines the high-quality care delivered at Virtua with advanced, specialized care provided at Lourdes - especially in areas like cardiovascular surgery, complex neurosurgery, and transplant services. As a result, Virtua now offers a full continuum of services to meet the needs of South Jersey residents, particularly those in low-income, underserved neighborhoods. “The value we place on the patient experience and performance improvement - coupled with our commitment to quality and community involvement - will make a tremendous impact on the health and well-being of the patients we serve,” Pullin said. “By investing in Lourdes, Virtua is demonstrating that it is fully committed to the people of this region and that, collectively, we are here for good,” said David Kindlick, chair of the Virtua Board of Trustees. This process began in June 2018, when the boards of Virtua and Pennsylvania-based Maxis Health System - the parent company of Lourdes and a subsidiary of Trinity Health - signed a definitive agreement to move forward with the acquisition. The Lourdes Health System includes Our Lady of Lourdes Medical Center in Camden, Lourdes Medical Center of Burlington County, Lourdes Medical Associates, and Lourdes Cardiology Services - all of which are now part of Virtua. On June 10, 2019 - following extensive regulatory review from state and federal agencies - the Office of the Attorney General of New Jersey, in consultation with the New Jersey Department of Health, issued its recommendation in favor of the transaction to Judge Paula Dow of the Superior Court of New Jersey, who subsequently approved the acquisition on June 25, 2019. Now united, the combined health system includes 280 care locations and 100-plus buildings. It has more than 13,000 employees, including 2,850 clinicians. Looking forward, Virtua expects to deliver approximately 8,600 babies, treat 325,000 visitors in its emergency rooms, and schedule more than 600,000 outpatient appointments annually. “Although we may have grown in scope and scale, Virtua’s core principles remain the same,” noted Pullin. “We look forward to welcoming our new colleagues, caring for our new patients, and being a true partner in health well into the future.”

 

Historic moment: Virtua President and CEO Dennis W. Pullin, FACHE, completes Virtua’s acquisition of Lourdes Health System. With Pullin (center), seated from left, are John Matsinger, EVP and chief operating officer, and Robert Segin, EVP and chief financial officer. Standing from left are Lauren Rowinski, SVP and general counsel; Sarah Fawcett-Lee, SVP and chief philanthropy officer; Stephanie Fendrick, SVP and chief strategy officer; Rhonda Jordan, SVP and chief human resources officer; Chrisie Scott, SVP and chief marketing officer; and Cort Adelman, AVP of government relations.

Reference
Daniel Moise
18888478823
 
Powered By CC-Assist.NET