LAKEWOOD, Colo.—Renal Ventures Management acquired a majority interest in two chronic care dialysis clinics in Morris County, New Jersey. The acquisition will be structured as a joint venture (JV) between Renal Ventures and AHS Hospital Corporation, parent company to Atlantic Health System. Renal Ventures also entered into a contract to provide acute dialysis services at Morristown Medical Center, which is owned and operated by Atlantic Health System.
The acquisition enhances the partnership between Renal Ventures and Atlantic Health System, who have been co-ventured partners in a chronic care dialysis clinic in Newton, New Jersey since 2011. Newton Medical Center, which joined Atlantic Health System almost two years ago, has shared a partnership with Renal Ventures since 2003.
"Renal Ventures has been an ideal partner for Atlantic Health System, and we are excited about this new chapter in the relationship between our organizations," said David Shulkin, MD, president, Morristown Medical Center, vice president, Atlantic Health System. "Renal Ventures has a reputation for providing the highest quality of care, and we believe they are the optimal partner to maintain the level of care our patients have come to expect."
"We are pleased to strengthen our relationship with Atlantic Health System," said Larry Chatfield, CEO of Renal Ventures Management. "They are one of the largest and most reputable health care systems in New Jersey and the New York metropolitan area. The success of our partnership with Atlantic Health System is rooted in a shared vision of operating clinics from the perspective of always putting patients first. Atlantic Health System has proven to be an ideal partner to continue the legacy of providing the highest standard of patient centered dialysis care. "
The acquisition of the two chronic care clinics, located in Morristown and Succasunna, New Jersey, will help increase Renal Ventures' already strong presence in the state. The company, in its 16th year, operates 12 dialysis centers across New Jersey. As one of the 10 largest dialysis providers in the country, Renal Ventures owns and operates 36 clinics in six states. The company is establishing partnerships with hospitals and nephrologists across the country via new developments and acquisitions.