Negotiations that began in March for Ascension Health Care Network to buy Saint Clare’s Health System in New Jersey from its current sponsor, Catholic Health Initiatives, have been abandoned, Ascension Health Care Network announced.
All three parties agreed to end negotiations.
Saint Clare’s operates four hospitals and other health facilities in Morris and Sussex counties in New Jersey.
The board of Saint Clare’s and Englewood, Colo.-based Catholic Health Initiatives decided earlier this year to seek another owner for the health system after a year-long evaluation and discussions with Catholic, not-for-profit and for-profit organizations. Read more on St. Louis Business Journal.