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Hackensack Meridian Health company logo
Corporation
HEALTHCARE | Medical Facilities & Services / Hospitals
hackensackmeridianhealth.org

Investments

8

Portfolio Exits

1

Partners & Customers

10

About Hackensack Meridian Health

Hackensack Meridian Health's mission is to provide the full spectrum of life-enhancing care and services to create and sustain healthy, vibrant communities. It was founded in 2016 and is based in Edison, New Jersey.

Headquarters Location

343 Thornall Street

Edison, New Jersey, 08837,

United States

848-888-4400

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Latest Hackensack Meridian Health News

Inside Hackensack Meridian's strategy to reduce nurse turnover

Feb 15, 2024

Thursday, February 15th, 2024 The nation has an average nurse vacancy rate of almost 16%, according to the 2023 NSI National Health Care Retention & RN Staffing Report. At Edison, N.J.-based Hackensack Meridian Health, however, that figure is 6.5%. The secret, according to one of its leaders: creating a strong culture, investing in nurse leadership development and implementing a strong employee referral program. The system has a strong brand and reputation for being a safe place to work, a place where nurses can work autonomously and spend their entire career, Regina Foley, PhD, RN, executive vice president, chief nurse executive and chief clinical transformation and integration officer at Hackensack Meridian, told Becker's. "We spend a lot of time and money on making that happen, to be candid. It goes back to being magnet designated and having a strong, rich foundation for national certification." For many, a strong culture relies on competitive wages, but "if you can't differentiate yourself with wages, how can you differentiate yourself?" Dr. Foley said. One of Hackensack Meridian's primary ways of differentiating itself is offering educational reimbursements. Nurses are reimbursed to get nationally certified or participate in professional development, including clinical ladder programs. They also have tuition reimbursement for nurses who want to pursue an advanced degree or become a nurse practitioner. "We want to incentivize them to do that," Dr. Foley said. "We have a lot of master-prepared nurses and even doctorally-prepared nurses working at the bedside now. The nurse wants to take care of his or her patients. We work hard at making sure they are successful in the practice of nursing and they feel respected and appreciated." Hackensack Meridian also invests in leadership development, giving nurses the opportunities to expand their skills. "If the leaders are doing a good job on their units in their departments, then we have a fulfilled staff," Dr. Foley said. "Therefore, they're not looking to go elsewhere. We recognize and are humbled to know that we have to spend time and attention in developing our leaders." Development programs are also created for nursing students at Hackensack Meridian. Dr. Foley said the system "by design" has a strong relationship with higher education. "Those nursing faculty are part of the fabric of our system," she said. "… We want every [nursing student] seat to be filled. We want those students to have an exceptional experience there in our clinical sites. Seeing what it's like to work as a practicing nurse. I think that is what feeds and bleeds into the low vacancy rates. Our nurses at the bedside accommodate those students, they tell them about programs to pursue, about upcoming vacancies and new roles becoming available." Turning staff into recruiters Another strategy the system uses is incentivizing team members to recruit. Hackensack Meridian offers a $5,000 referral bonus for nurses with two or more years of experience that joins part-time or full-time from an employee referral, and a $10,000 bonus for operating room positions. In the last year, 1085 people were referred to the system and 255 joined from those referrals. Employee referrals have become the third-largest source of hires for the system. "We give an incentive bonus to our nurses or any of our team members to recruit somebody to a key job in the organization," Dr. Foley said. "Money and a competitive age is part of the equation and we take advantage of all those other benefits. But we also know that people going into healthcare have choices and options. We don't want to use an agency nurse or contracted nurses, we want our team members to tell us about that potential person, and we say thank you for doing that."

Hackensack Meridian Health Investments

8 Investments

Hackensack Meridian Health has made 8 investments. Their latest investment was in FluidForm as part of their Corporate Minority on January 11, 2022.

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Hackensack Meridian Health Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

1/11/2022

Corporate Minority

FluidForm

Yes

1

9/27/2021

Private Equity

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10

5/19/2020

Unattributed

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10

12/4/2019

Corporate Minority

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10

5/29/2019

Series A - II

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$99M

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10

Date

1/11/2022

9/27/2021

5/19/2020

12/4/2019

5/29/2019

Round

Corporate Minority

Private Equity

Unattributed

Corporate Minority

Series A - II

Company

FluidForm

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Amount

$99M

New?

Yes

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Co-Investors

Sources

1

10

10

10

10

Hackensack Meridian Health Portfolio Exits

1 Portfolio Exit

Hackensack Meridian Health has 1 portfolio exit. Their latest portfolio exit was EValuate Diagnostics on October 04, 2023.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

10/4/2023

Spinoff / Spinout

EValuate Diagnostics

$99M

2

Date

10/4/2023

Exit

Spinoff / Spinout

Companies

EValuate Diagnostics

Valuation

$99M

Acquirer

Sources

2

Hackensack Meridian Health Acquisitions

4 Acquisitions

Hackensack Meridian Health acquired 4 companies. Their latest acquisition was Carrier Clinic on January 03, 2019.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

1/3/2019

$99M

Merger

2

11/10/2016

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$99M

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10

5/12/2015

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$99M

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10

5/12/2015

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$99M

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10

Date

1/3/2019

11/10/2016

5/12/2015

5/12/2015

Investment Stage

Companies

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Valuation

$99M

$99M

$99M

$99M

Total Funding

Note

Merger

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Sources

2

10

10

10

Hackensack Meridian Health Partners & Customers

10 Partners and customers

Hackensack Meridian Health has 10 strategic partners and customers. Hackensack Meridian Health recently partnered with Compass Pathways on January 1, 2024.

Date

Type

Business Partner

Country

News Snippet

Sources

1/16/2024

Partner

United Kingdom

Compass Pathways enters into research collaboration agreement with Hackensack Meridian Health to develop optimal clinical model for investigational COMP360 psilocybin treatment, if FDA-approved

16 , 2024 -- Compass Pathways plc , a biotechnology company dedicated to accelerating patient access to evidence-based innovation in mental health , and Hackensack Meridian Health , a leading not-for-profit health care organization and the largest , most comprehensive and truly integrated network in New Jersey , today announced that that they have entered into a research collaboration agreement to inform the delivery model design of investigational COMP360 psilocybin treatment , if FDA-approved .

1

11/14/2023

Vendor

United States

09:00 ET Hackensack Meridian Health and One Medical Announce Partnership Focused on Expanding Access to Care and Seamless Coordi...

`` We are deeply committed to expanding access to high-quality care and connecting patients with the specialty services they need and this exciting partnership with One Medical will help us advance our goals , '' said Robert C. Garrett , FACHE , CEO of Hackensack Meridian Health .

3

3/9/2023

Partner

United States

Hackensack Radiology - Hoboken Ribbon Cutting. Hackensack Meridian Health & Hackensack Radiology Group Announce Joint Partnership to Provide State-of-the-Art Diagnostic Imaging in a New, Convenient Hoboken Location.

Hackensack Meridian Health and Hackensack Radiology Group are excited to announce a joint partnership that will provide state-of-the-art diagnostic imaging & world class quality health care in a new , convenient location in Hoboken .

1

3/1/2023

Partner

United States

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10

2/27/2023

Partner

United States

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10

Date

1/16/2024

11/14/2023

3/9/2023

3/1/2023

2/27/2023

Type

Partner

Vendor

Partner

Partner

Partner

Business Partner

Country

United Kingdom

United States

United States

United States

United States

News Snippet

Compass Pathways enters into research collaboration agreement with Hackensack Meridian Health to develop optimal clinical model for investigational COMP360 psilocybin treatment, if FDA-approved

16 , 2024 -- Compass Pathways plc , a biotechnology company dedicated to accelerating patient access to evidence-based innovation in mental health , and Hackensack Meridian Health , a leading not-for-profit health care organization and the largest , most comprehensive and truly integrated network in New Jersey , today announced that that they have entered into a research collaboration agreement to inform the delivery model design of investigational COMP360 psilocybin treatment , if FDA-approved .

09:00 ET Hackensack Meridian Health and One Medical Announce Partnership Focused on Expanding Access to Care and Seamless Coordi...

`` We are deeply committed to expanding access to high-quality care and connecting patients with the specialty services they need and this exciting partnership with One Medical will help us advance our goals , '' said Robert C. Garrett , FACHE , CEO of Hackensack Meridian Health .

Hackensack Radiology - Hoboken Ribbon Cutting. Hackensack Meridian Health & Hackensack Radiology Group Announce Joint Partnership to Provide State-of-the-Art Diagnostic Imaging in a New, Convenient Hoboken Location.

Hackensack Meridian Health and Hackensack Radiology Group are excited to announce a joint partnership that will provide state-of-the-art diagnostic imaging & world class quality health care in a new , convenient location in Hoboken .

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Sources

1

3

1

10

10

Hackensack Meridian Health Team

30 Team Members

Hackensack Meridian Health has 30 team members, including current Chief Executive Officer, Robert C Garrett.

Name

Work History

Title

Status

Robert C Garrett

Chief Executive Officer

Current

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Name

Robert C Garrett

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Work History

Title

Chief Executive Officer

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Status

Current

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