Hackensack Meridian Health Selling Most Long-Term Care Facilities To Complete Care

HACKENSACK, NJ — New Jersey's largest health network has signed an agreement with a for-profit company to acquire most of its long-term care facilities, according to a news release.

Hackensack Meridian Health announced the agreement with Complete Care on Tuesday, citing the changes in the industry during the COVID-19 pandemic.

Complete Care will take over at HMH's nursing and subacute care facilities in Brick, Hackensack, Holmdel, North Bergen, Ocean Grove, Plainfield, Shrewsbury and Wall, as well as two assisted living facilities located in Edison and Holmdel.

As NorthJersey.com reports, this represents 11 of HMH's 14 long-term care facilities. Terms of the sale have not been made public.

"Upon closing, Hackensack Meridian Health and Complete Care will maintain a unique care collaboration relationship to ensure the delivery of quality care for hospital patients and residents that is clinically integrated through the care continuum," HMH said in the news release.

Complete Care Management is headquartered in Toms River. As NorthJersey.com reports, it was founded in 2015.

One of its facilities, Complete Care at Fair Lawn Edge in Paterson, was on the state comptroller's list of the Garden State's consistently lowest-rated nursing homes.

The CEOs of both organizations provided statements on the acquisition:

“Hackensack Meridian Health is focused on transforming the continuum of care for the patients, team members and communities we serve,” said Robert C. Garrett, FACHE, chief executive officer of HMH. “That is why after careful consideration over the past several months, we have decided to partner with Complete Care, a leading provider of short-term post-acute rehabilitation, and long-term and specialty care, for them to acquire the majority of our long-term care facilities.

“We are committed to ensuring a seamless transition with Complete Care and believe this ownership transfer will enhance the continuum of care of our patients and the well-being of our team members."

“We are honored to enter into this agreement with Hackensack Meridian Health," said Sam Stein, CEO of Complete Care. "As leaders of our industries, this is a perfect alignment. Complete Care is a family owned and operated NJ-based company that shares a commitment to advancing the health and well-being of the senior communities served by the network.

“Our success in the long-term care industry is made possible by our dedicated, experienced management team, which is comprised of Licensed Nursing Home Administrators and our more than 4,000 caring and committed staff members statewide.”