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Virtua Health, Lourdes exploring acquisition

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The letter of intent comes two months after Cooper University Healthcare pulled out of a deal to acquire Lourdes.
The letter of intent comes two months after Cooper University Healthcare pulled out of a deal to acquire Lourdes. - ()

Maxis Health System, a part of Trinity Health, has signed a letter of intent to explore the possible acquisition of Camden-based Lourdes Health System by Virtua Health, which is headquartered in Marlton.

Maxis is Lourdes' parent company in the Trinity Health system. Lourdes operates two hospitals in South Jersey – Our Lady of Lourdes Medical Center and Lourdes Medical Center of Burlington County. Virtua operates Virtua Marlton Hospital, Virtua Memorial in Mount Holly and Virtua Voorhees Hospital.

Lourdes said in a March 8 news release that the two sides hope to reach an agreement this year.

The letter of intent comes two months after Cooper University Healthcare pulled out of a deal to acquire Lourdes.

Cooper subsequently sued Lourdes, saying it refused to return a $15 million deposit. Maxis filed a countersuit alleging that Cooper, in its legal filing, disclosed information about the deal that both parties had agreed not to share with the public.

A Lourdes spokesperson said that the lawsuits will not affect the negotiations. 

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Vince Calio

Vince Calio


Vince Calio covers health care and manufacturing for NJBIZ. You can contact him at vcalio@njbiz.com.

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