So what’s in store now that Meridian Health and Hackensack University Health Network have announced plans to merge?
After Thursday’s signing of the Memorandum of Understanding, it could take up to four months to get to the definitive merger agreement, according to a Meridian press release. Once finalized, both non-profit health care organizations are planning to share governance of the new organization 50/50.
“There will be equal governance from each organization,” said Meridian President and CEO John Lloyd. “And Bob Garrett (of Hackensack University Network) and I would be co-presidents and co-ceo’s for two and a half years and after those two and a half years, Bob Garrett would become President and CEO of the new entity.”