Atlantic Health System, of Morristown, said Atlantic and Chilton Hospital, in the Pompton Plains section of Pequannock, have signed a definitive agreement for Chilton to join Atlantic.
The April 30 definitive agreement, negotiated after the parties signed a letter of intent last October, is subject to regulatory review, and is expected to be final by the end of the year.
Atlantic said with the addition of Chilton, Atlantic “will expand access to its high-quality care and award-winning programs and services in Passaic County, where two thirds of Chilton’s patients reside, and to other communities near the New York border.”
When announcing the deal last October, Atlantic CEO Joseph Trunfio said Atlantic would assume $45 million in debt from Chilton, and commit additional funds to build and expand Chilton’s services and facilities.
Chilton will retain its name when it joins the Atlantic Health System, whose member hospitals are Morristown, Overlook and Newton Medical Centers and the Goryeb Children’s Hospital.