Crozer Health could get a new owner under a preliminary agreement announced Wednesday by Prospect Medical Holdings, the California for-profit firm that has controlled the financially beleaguered Delaware County health system for eight years. The tentative buyer is CHA Partners LLC, a New Jersey real estate company that specializes in buying hospital properties and redeveloping them into mixed-use medical facilities. The price was not disclosed. The plan calls for CHA to work with Healthcare Preferred Partners, an affiliated company, on the management of Crozer and its conversion back into a nonprofit. Crozer operates four hospitals — Crozer-Chester Medical Center in Upland, Delaware County Memorial Hospital in Drexel Hill, Taylor Hospital in Ridley Park and Springfield Hospital in Springfield — as well as several other outpatient and surgical facilities. “We believe this is a positive step for our physicians, employees, and the communities we serve, and will help secure Crozer Health’s future as a critical health-care provider in Delaware County,” Crozer CEO Tony Esposito said in an announcement. Read the full story in the Inquirer. Chester Mayor Stefan Roots has been critical of the business practices of Prospect Medical Group.
Source: Delaware County; 8/7/2024 and Swarthmorean; 8/9/2024