West Reading, Pa.-based Tower Health is in search of a accomplice to purchase all the system, placing the future of St. Christopher’s Hospital for Children in danger, in accordance to The Philadelphia Inquirer.
Tower Health and Drexel University acquired St. Christopher’s Hospital for Children in Philadelphia in December 2019 for $50 million. The 188-bed hospital was put up on the market after it and Philadelphia-based Hahnemann University Hospital filed for Chapter 11 chapter in June 2019.
Less than two years after the sale was accomplished, Tower, which manages St. Christopher’s as a part of the three way partnership, is in search of a purchaser as it faces monetary losses, in accordance to the report.
Drexel University President John Fry is in search of methods to keep St. Christopher’s as a educating location for Drexel College of Medicine’s college students. He resigned earlier this month from Tower Health’s board to keep away from conflicts of curiosity, in accordance to the report.
Philadelphia-based Temple University Health System can also run the hospital. It makes use of St. Christopher’s as a educating location.
“Preserving St. Chris is important for Philadelphia, because it plays a vital role in the city’s healthcare network for children,” Temple University Health System CEO Michael Young advised the Inquirer. “We are currently in discussions to see whether it’s possible for Temple to have a role in doing so.”
Read the complete article from The Philadelphia Inquirer here.
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