Purchase of Crozer-Keystone Finalized … Finally

By

Delaware County Memorial Hospital

For-profit hospital management company Prospect Medical Holdings has finalized its purchase of six healthcare facilities in Pennsylvania and New Jersey including Delaware County’s Crozer-Keystone Health System, writes Kym Soper for the Manchester (Conn.) Journal Inquirer.

The previously non-profit Crozer-Keystone is now part of an 18-hospital system that boasts 3,000 licensed beds and more than 140 primary and specialty care clinics in five states.

In the deal negotiated at the start of the year, Prospect paid $300 million to add the four Crozer-Keystone hospitals and an outpatient facility to its growing healthcare network. According to the agreement, Prospect is committed to spending an additional $200 million on upgrades and modernization efforts over the next five years.

According to court records, the hospitals included in the transaction are the Crozer-Chester Medical Center in Chester, the Delaware County Memorial Hospital’s Drexel Hill facility, Springfield Hospital’s acute care facility in Springfield, and Taylor Hospital in Ridley Park.

Community Hospital in Chester, which provides outpatient behavioral and primary community health services, is also included in the purchase. However, Prospect has not disclosed how the acquisition will affect staffing levels at the facilities.

Read more about the purchase from the Manchester (Conn.) Journal Inquirer by clicking here.

Join Our Community

Never miss a Delaware County story!

"*" indicates required fields

Hidden
DT Yes
This field is for validation purposes and should be left unchanged.
Advertisement