The New Jersey State Health Planning Board on Thursday approved the sale of Memorial Hospital of Salem County to Prime Healthcare Foundation by Community Health Systems Inc.
The price was $15 million according to health-board documents. Community Health bought the 126-bed facility for $35 million in 2002.
Prime Healthcare Foundation will operate the Salem County hospital as a tax-exempt facility. The foundation is related to the for-profit Prime Healthcare Services Inc., which owns Lower Bucks, Roxborough Memorial, and Suburban Community Hospitals.
Prime also owns three for-profit hospitals in North Jersey.