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Catholic Health East Acquires Saint Michael's Medical Center
Date:7/31/2008

NEWARK, N.J., July 31 /PRNewswire/ -- Alexander J. Hatala, president and CEO of Catholic Health East New Jersey (CHE-NJ), today announced the completion of an asset purchase agreement with Cathedral Healthcare System that makes Saint Michael's Medical Center, Inc. the newest affiliate of Catholic Health East, one of the nation's largest not-for-profit health systems.

"We are delighted to welcome Saint Michael's Medical Center into the CHE-NJ family," said Hatala. "With the addition of Saint Michael's, and with Lourdes Health System -- Our Lady of Lourdes Medical Center in Camden and Lourdes Medical Center of Burlington County in Willingboro -- and St. Francis Medical Center in Trenton, our hospitals will now be serving three of the state's major cities and will constitute the state's largest Catholic health-care system."

"Our mission calls us to seek ways to ensure access to health services for those people most in need," said Robert V. Stanek, president and CEO of Catholic Health East. "Today's announcement is the culmination of the collaborative work of all parties -- the Archdiocese of Newark, Newark city leadership and state legislators, the State of New Jersey, physicians and employees, and the local community -- to find a solution that best meets community needs. Our Catholic health ministry in New Jersey, and nationwide, is strengthened and enriched with the addition of Saint Michael's Medical Center to our family."

Hatala explained that each affiliate of CHE-NJ -- the newly established New Jersey division of Catholic Health East -- retains its local management and governance while benefiting from some key economic and operational efficiencies and shared services.

"The Franciscan roots of our New Jersey hospitals have helped shape the firm foundation for their partnership," said Hatala. "This union strengthens each of our hospitals and allows all to enjoy certain advantages of affiliation. Our hospitals share a longstanding
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SOURCE Catholic Health East
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