Cooper Health Goes To Court After Pulling Out Of Deal To Acquire 3 South Jersey Competitors
CAMDEN, NJ. (CBS) -- Just days after Cooper Health System pulled out of a deal to take over three South Jersey hospitals, they've gone to court in an effort to get some $15 million already spent on the scuttled plan.
Cooper officials would not consent to an interview, but KYW Newsradio obtained a copy of the 49 page action filed this week in Camden County Superior Court. It seeks to obtain funds held in escrow as part of now abandoned plans to acquire Our Lady of Lourdes in Camden, as well as the Lourdes Medical Center in Burlington and St. Francis in Trenton.
The termination letter to Trinity Health Corporation, owners of the three hospitals, states three issues of concern that came up during due diligence discussions. Also a reference to a discussion between Lourdes's President and the Catholic Bishop of Camden.
It's alleged in that letter that the interim President "spoke with the Bishop of Camden, disparaging Cooper and asking the Bishop to intervene to prevent the transaction from proceeding. This effort is a material breach of the Letter of Intent."
The Diocese of Camden has not responded to a call for comment.