Hackensack (N.J.) University Medical Center has agreed to acquire 154-bed Pascack Valley Hospital, Westwood, N.J., from Well Care Group. The deal is expected to close in early 2007. Officials said financial terms had not been worked out. Under the memorandum of understanding, 661-bed Hackensack would use its clinical and financial resources to support existing programs at Pascack and help establish new services. Pascack lost $13.7 million on revenue of $81.6 million through August of this year, according to Anita Varghese, associate director at Standard & Poors. Pascacks debt is rated B+ with a negative outlook. Varghese said S&P likely wont take action on the rating until it learns more details about the deal. -- by Cinda Becker
N.J. hospitals reach acquisition deal
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