LHP Hospital Group and Hackensack University Health Network Complete Purchase of HackensackUMC Mountainside in Hospital Joint Venture

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Hackensack University Health Network and its partner LHP Hospital Group, Inc., announced that they have completed transfer of ownership of Mountainside Hospital from Merit Health Systems, LLC. The 121 year-old, 365-bed facility will now be known as HackensackUMC Mountainside. The hospital will be under the ownership of a hospital joint venture created between Hackensack University Health Network and LHP.

This is a pivotal turning point for HackensackUMC Mountainside because it is now well-positioned to meet the challenges that lie ahead for all hospitals while also broadening the scope of its patient care...

Hackensack University Health Network and its partner LHP Hospital Group, Inc., announced that they have completed transfer of ownership of Mountainside Hospital from Merit Health Systems, LLC. The 121 year-old, 365-bed facility will now be known as HackensackUMC Mountainside. The hospital will be under the ownership of a hospital joint venture created between Hackensack University Health Network and LHP.

“LHP is one of the nation’s premier private hospital management companies and Hackensack University Health Network is recognized within New Jersey and nationally for clinical excellence,” observed John Fromhold, the hospital’s president and chief executive officer. “This is a pivotal turning point for HackensackUMC Mountainside because it is now well-positioned to meet the challenges that lie ahead for all hospitals while also broadening the scope of its patient care and more effectively meeting the needs of this community.”

“Both Hackensack University Medical Center and Mountainside Hospital have been providing exceptional care to New Jersey residents for more than a century. We look forward to combining the clinical expertise of both facilities with the formation of HackensackUMC Mountainside,” said Robert C. Garrett, president and chief executive officer of Hackensack University Health Network. “We are thrilled to begin this partnership with our joint venture partner, LHP, as the strength and security of their financial backing and management will undoubtedly enhance HackensackUMC Mountainside’s reputation as a premier hospital in the Montclair region and beyond.”

“In recent years, HackensackUMC Mountainside has been a standout among New Jersey hospitals due to its success in improving quality and safety while simultaneously exercising fiscal discipline,” said LHP Hospital Group chief executive officer, Dan Moen. “It’s an honor to partner with their organization on this joint venture and together we are committed to upholding HackensackUMC Mountainside’s distinguished tradition of service to residents of Montclair, Glen Ridge and neighboring communities. We look forward to building upon that strong foundation and we’re very excited about what the future holds for constituents of HackensackUMC Mountainside.”

HackensackUMC Mountainside, located on the Montclair/Glen Ridge border, is known for providing access to state-of-the-art patient care in a nurturing, community hospital setting.

About HackensackUMC Mountainside

At HackensackUMC Mountainside, world-class physicians treat a wide range of medical conditions using state-of-the-art technology. Patients have immediate access to innovative and effective treatment alternatives at specialized centers within the hospital that focus on imaging, women’s health, cancer care, surgery, obesity, stroke and chronic kidney disease. The 365-bed community hospital delivers personalized care while also serving as a learning center via its nursing school and residency programs in family medicine, internal medicine and dentistry. HackensackUMC Mountainside is designated as a Primary Stroke Center by the NJ State Department of Health and Senior Services and is one of only a few community hospitals licensed by the State to perform emergency angioplasty. To learn more about HackensackUMC Mountainside visit http://www.mountainsidehosp.com.

About Hackensack University Health Network

Hackensack University Health Network is the non-profit, New Jersey-based parent company of HackensackUMC, the HackensackUMC Foundation, Hackensack University HealthPartners Medical Group, and corporate joint venture partners with LHP Hospital Group (Dallas, TX) in ownership of two hospitals: HackensackUMC at Pascack Valley and HackensackUMC Mountainside Hospital. With more than 9,000 employees and 2,200 credentialed medical staff members at hospitals within the Network, Hackensack University Health Network is the largest healthcare system in northern New Jersey. The Network has current clinical collaborations and affiliations with Hackettstown Regional Medical Center and Saint Clare’s Health System. For more information, go to http://www.HackensackUMC.org.

About LHP Hospital Group, Inc.

LHP Hospital Group, Inc. (LHP) is a privately held company established to provide essential capital and expertise to not-for-profit hospitals and hospital systems. In cooperation with local hospitals, LHP forms joint ventures to acquire, own, operate and manage acute care facilities in small cities and select urban markets throughout the United States. Headquartered in Plano, Texas, LHP is owned by affiliates of the private equity firm CCMP Capital Advisors, LLC and the CPP Investment Board as well as certain members of management and the board of directors. For more information, please go to http://www.lhphospitalgroup.com.

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