October 11, 2016
The company that owns a majority stake in two North Jersey for-profit hospitals, in Westwood and Montclair, is merging with another for-profit company to form the nation’s second largest private, for-profit hospital operator.
LHP Hospital Group Inc., of Plano, Texas, has operated HackensackUMC at Pascack Valley and HackensackUMC Mountainside for several years in separate joint-venture agreements with Hackensack University Medical Center.
Under a deal announced last week, LHP will merge into Ardent Health Services, which is based in Nashville, Tenn.
The two New Jersey hospitals are part of the recently formed Hackensack Meridian Health Network.
“We do not anticipate any impact on day-to-day operations of the hospitals in any way, shape or form,” said Wendy Tischler, an LHP spokeswoman. All of the employees at LHP’s hospitals in four states are to maintain their current rates of pay and seniority levels, once the transaction is approved, she said.