Hackettstown Regional Medical Center (HRMC) announced May 2nd that they are seeking a strategic partner to support their continued growth of services to meet the needs of the residents of their regional service area. With the changing healthcare environment within New Jersey and the nation, HRMC has determined there is a definitive need to proactively partner with a healthcare system that is a strong leader in the industry, dedicated to growing services and improving the quality of healthcare in New Jersey.
The healthcare landscape in New Jersey is rapidly changing, particularly in the northwestern part of the state, and has become extremely competitive. The smaller, stand alone hospitals like HRMC, will find it progressively more difficult to meet the increasing needs and demands of a diverse population and still remain viable in the midst of challenging insurance provider relationships and decreasing reimbursements posed by State and Federal governments. With those factors in mind, HRMC leaders stress that the time is right for this exploration.
To support HRMC's search, Cain Brothers, one of the nation's leading health care financial advisory firms, is assisting in the exploration of strategic alternatives, including potential partnerships with larger organizations, both regional and national. "With their assistance, we'll identify potential solutions to safeguard our ability to deliver valuable health care services to the community, continue our positive growth, and affirm our commitment to providing state-of-the-art technology and compassionate, quality healthcare," stated Jason C. Coe, HRMC President.
While HRMC pursues the development of a strong alliance with a health system partner, the Medical Center will continue to provide excellent care to their patients and will continue to work seamlessly with their current, affiliated provider, Hackensack University Medical Center. Through the present agreement, Hackensack University Medical Center provides contracted laboratory and pathology services, specialized bariatric surgical services, and neurosurgery for HRMC's stroke patients.
Michael B. Lavery, Esq., past mayor of Hackettstown and spokesman for the HRMC Board of Directors, emphasizes, "As HRMC navigates this process, the Board of Directors and Executive Team are committed to keeping the community informed. Periodic announcements will be made throughout the process, and consistent communication will be maintained via press releases, special media announcements and posted content on HRMC's website, www.hrmcnj.org."
Coe added, "We thank our community, in advance, for their continued support as we journey toward the goal of ensuring that HRMC will continue to grow, thrive and maintain our longstanding commitment to providing quality healthcare to patients in this region."