Ascension's Takeover Of 3 NJ Hospitals Falls Through

Law360, New York (August 6, 2012, 8:48 PM EDT) -- In a decision that pulls the plug on Ascension Health Care Network's planned takeover of Passaic County's three hospitals, St. Joseph's Healthcare System on Friday cut off acquisition talks with the for-profit Catholic health care system.

In an announcement following a closed-door meeting of St. Joseph's board Thursday evening, the health care facility, which operates two hospitals in the county, rejected a proposed alliance with the smaller St. Mary's Hospital in the purchase by Ascension.

"St. Joseph's Healthcare System made the decision to discontinue talks with...
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