Prospect Medical Agrees to Promote Crozer Well being to CHA Companions
Prospect Medical Holdings has signed an settlement to switch possession of Crozer Well being to CHA Companions, a full-service actual property agency.
Crozer Well being, which operates 4 hospitals in Delaware County, Pennsylvania, has a complete of 558 beds.
It employs 4,429 individuals, together with roughly 1,116 healthcare suppliers.
This newest step marks the start of formal procedures to finish the acquisition, which can return Crozer's services to not-for-profit standing, Fierce Healthcare reported.
CHA Companions, recognized for buying 5 hospitals in New Jersey, is a non-public fairness agency based in 2018 with the mission of preserving healthcare providers and jobs within the communities by which it operates.
The corporate additionally manages medical workplace buildings, outpatient surgical procedure facilities and nursing services.
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On this transaction, CHA will collaborate with Healthcare Most well-liked Companions (HCPP), recognized for its experience in managing healthcare methods and facilitating enhancements in difficult city areas.
No particulars have been launched concerning the Crozer Well being acquisition because the deal remains to be within the preliminary levels.
The settlement with Prospect Medical Holdings follows an earlier settlement with the Pennsylvania Legal professional Normal's Workplace, which supplied a nine-month interval to discover a purchaser for Crozer.
An earlier try to promote Crozer to ChristianaCare Well being System failed in mid-2022.
WHYY quoted an e-mail from Crozer CEO Tony Esposito, by which he stated, “It is a optimistic step for our physicians, staff and the communities we serve as a result of it secures Crozer Well being’s future as a vital healthcare supplier in Delaware County.
“Prospect and Crozer Well being management will work intently with CHA and HCPP over the approaching months to finish the switch of possession. This course of contains due diligence, regulatory opinions and acquiring all crucial approvals.”
