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RWJBarnabas Health on Tuesday called off its deal to acquire St. Peter’s Healthcare System in New Brunswick, N.J., not even two weeks after the Federal Trade Commission filed suit to block the proposed transaction.
The health system, which is headquartered in West Orange, N.J., said it and St. Peter’s mutually agreed to end the transaction after “considerable deliberation” over the FTC’s action.
“We are disappointed in the termination of the proposed transaction, which we believe would have transformed quality, increased access and decreased the overall cost of care for the people of this State through the creation of a premier academic medical center,” Barry H. Ostrowsky, chief executive officer of RWJBarnabas Health, said in a statement. “Despite the loss of this opportunity, RWJBarnabas Health remains resolute in its commitment to serve the people of New Jersey – especially those who reside in our most vulnerable, chronically underserved communities – and shall continue to do so.”
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