Daily News | Cooper and Cape Regional reach definitive agreement to merge
Cooper University Health Care and Cape Regional Health System said Tuesday that they had finalized their plan to merge. The two nonprofit health systems hadCombined, the two the systems would have more than $2.2 billion in annual revenue, two hospitals with more than 900 licensed beds, and more than 10,000 employees, Cooper and Cape Regional said in a news release.Cooper is far larger than Cape Regional, with $1.
Moody’s Investors Service in January upgraded Cooper’s credit rating to A3 from Baa1, citing the agency’s expectation that profitability and cash reserves will stay strong even as Cooper spends on expansions such asThe planned deal with Cape Regional was not considered in that upgrade, but will be taken into account as it gets closer to completion.
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