A New Jersey court gave final regulatory clearance for the sale of three-hospital St. Clare's Health System, Denville, N.J., to for-profit hospital chain Prime Healthcare Services.
The New Jersey Superior Court, Chancery Division of Morris County, approved the Community Health Care Assets Protection Act application by Ontario, Calif.-based Prime and St. Clare's. The state attorney general's office and the health department previously approved the providers' CHAPA and certificate-of-need applications. The deal is valued at $62 million.
St. Clare's, which is part of Englewood, Colo.-based Catholic Health Initiatives, will join St. Mary's Hospital New Jersey, Passaic, as part of Prime's operations in the state. Completion of the deal is expected at the end of July.
