Cooper University Health Care Announces, After Extensive Due Diligence, It Will Not Acquire Lourdes Health System and St. Francis Medical Center
Cooper University Health Care Announces, After Extensive Due Diligence, It Will
Not Acquire Lourdes Health System and St. Francis Medical Center
CAMDEN, NJ – Cooper University Health Care announced today 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, and St. Francis Medical Center in Trenton. Cooper signed a Letter of Intent
on August 31, 2017, to acquire Trinity Health’s New Jersey hospitals.
Since the letter of intent was executed, Cooper University Health Care has undertaken substantial and
exhaustive due diligence with respect to the proposed transaction that included a comprehensive
review of compliance, legal, regulatory, and operational issues. Based upon that review, Cooper
University Health Care today announced that it has terminated the letter of intent and regretfully will
not be proceeding with the previously announced transaction.
Cooper CEO Adrienne Kirby stated, “Our team has invested thousands of hours and millions of dollars in
reviewing the proposed transaction. 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.”
Kirby further commented, “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 healthcare industry and we wish them well in their future endeavors.”
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