Saint Joseph’s University and the struggling University of the Sciences merged on June 1. Higher ed observers expect more mergers to come as some small private institutions continue to flounder
On June 1, Saint Joseph’s University officially merged with the University of the Sciences, making the crosstown campuses one institution under the Saint Joseph’s name.
For Saint Joseph’s, absorbing the robust suite of health care offerings at the University of the Sciences allows for an immediate expansion of academic programs, drawing on the expertise of faculty members already on campus.
For the University of the Sciences, the deal offers continuity for students amid financial challenges in recent years that led both Fitch Ratings and Moody’s Investors Service to downgrade the institution as its endowment funds dwindled.
Now the two Philadelphia campuses share a joint mission. Officials at Saint Joseph’s believe such mergers may become the new normal as higher ed institutions contend with a number of challenges.
The Right Fit
Mark Reed, president of Saint Joseph’s, said the university’s strategic plan includes looking for opportunities to broaden its academic portfolio, which made the merger an attractive option.
“Now, we do that—just as every institution would do—normally through incremental changes, responding to market needs, etc.,” Reed said. “But we also were very clear in our strategic plan, given where we’re located in Philadelphia, given the region, given the number of institutions, that there may be opportunities to do something bigger and bolder, such as a merger or acquisition.”
No money changed hands to facilitate the merger, Reed noted, explaining that “Saint Joseph’s University is absorbing all of the assets and all the liabilities of the University of Sciences.”
Saint Joseph’s, a Jesuit college established in 1851, has a rich history as a liberal arts institution. University of the Sciences has long focused on health care professions. Founded in 1821, University of the Sciences was home to the first school of pharmacy in the U.S. Saint Joseph’s has upward of 6,500 students, while the University of the Sciences enrolled around 2,000.
While Saint Joseph’s already had some health-related programs, including various majors and a Center for Autism Education and Support, it didn’t have a college of health professions. Now it does, with established, accredited programs in areas like physical therapy, pharmacy and others.
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