4 Delco Hospitals Being Sold To Delaware-Based Healthcare System

Media PA

11 February, 2022

12:48 PM

Description

DELAWARE COUNTY, PA — Four Delaware County hospitals will soon be under new management as a Delaware-based healthcare system is planning to purchase Crozer Health. Christiana Care Health System Inc. Friday said it has signed a letter of intent with Prospect Medical Holdings Inc. to purchase the assets and operations associated with Crozer-Chester Medical Center in Upland, Delaware County Memorial Hospital in Drexel Hill, Springfield Hospital in Springfield, and Taylor Hospital in Ridley Park. The agreement also includes the hospitals' related businesses, real estate assets, Crozer Health Medical Group and the associated assets, ambulatory centers, medical office buildings, physician clinics and ancillary outpatient services. ChristianaCare and Prospect are working to negotiate a final agreement, with a target date of the second quarter this year, with the potential for closing to occur in the second half of this year. Upon closing, ChristianaCare will return Crozer Health, with its approximately 4,000 employees, to nonprofit status as part of ChristianaCare. Crozer Health currently operates as a for-profit entity. "The pandemic has demonstrated the vital importance of working together to meet the clinical needs of the communities we serve," said Kevin M. Spiegel, FACHE, CEO of Crozer Health. "We are excited by the potential to join these two great organizations so that we can continue to provide the high-quality, accessible care that our communities – Delaware County and beyond – rely on." Delaware County Council applauded the sale agreement and touted ChristianaCare's record for care and services. "County Council was pleased to be informed that ChristianaCare intends to acquire Crozer Health and related businesses and associated assets," the county said in a joint statement. "ChristianaCare has been serving the residents of Northern Delaware, Southeast Pennsylvania, and parts of Maryland and New Jersey for many years and offers high quality medical care and healthcare services. We are thankful that as part of the acquisition - Crozer, Delaware County Memorial, Springfield, and Taylor hospitals will remain operational and able to meet the healthcare needs of residents across the county." "ChristianaCare and Crozer Health have been serving the people of Northern Delaware, Southeast Pennsylvania and parts of Maryland and New Jersey as neighbors for many years," said Janice E. Nevin, M.D., MPH, ChristianaCare president and CEO. "We welcome this opportunity to explore a closer relationship with an organization that shares our commitment to value and service to the community."