SHOUT OUT: The hospital on the Hudson in North Bergen will be soon known as HackensackUMC Palisades said executives from Palisades Medical Center who today signed a letter of intent — pending state approval — to be acquired by Hackensack University Medical Center.
The deal brings $50 million into the acute-care hospital for new equipment, operating room renovations and service improvements, reduces costs for billing, purchasing and insurance — and extends HUMC’s reach into Hudson County, boosting its ability to compete with Manhattan’s hospitals.
It also is the culmination of a working arrangement between the two non-profits that began in June 2012 with the sharing of clinical privileges.
The move follows the purchase of Jersey City Medical Center earlier this year by St. Barnabas Health System and of St. Mary’s Hospital in Passaic by Prime HealthCare Services, which is pursuing St. Michael’s Medical Center in Newark.
HUMC specialists have handled pediatric and neonatal cases from Palisades General, which excels in that area. The new arrangement now opens access for Palisades patients to HUMC’s neurology, orthopedic surgery and oncology services.
“Since joining efforts in June 2012, both systems have seen significant benefits in the working relationship that has developed between their medical staff and physicians,” HUMC said on its Facebook page.
Officials said the management team at Palisades won’t change.
“We are thrilled to be taking this next step with our friends at Palisades Medical Center,” said Robert C. Garrett, the president and CEO of Hackensack University Health Network, which also has HackensackUMC at Pascack in Westwood and HackensackUMC Mountainside in Montclair.
“Our physicians and staff at HackensackUMC and Palisades Medical Center are the best in the state, committed to providing world-class quality care to our patients,” Garrett said. “This new venture will place our hospitals on the cutting-edge of medicine and healthcare delivery for our patients.”
Meanwhile, Bruce J. Markowitz, president and CEO of Palisades Medical Center, called the move “just one more step” toward strengthening its mission of providing “exceptional care for our patients.”
Palisades is building 50,000 square feet of physician office space and parking next to the 202-bed hospital.