Crozer-Keystone, Prospect Medical Holdings Agree to Patch Up Differences

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Crozer Keystone nurses and supporters rally outside the Delaware County Courthouse in Media.
The buyer of Crozer-Keystone’s five hospitals has agreed to arbitration over $21.5 million in disputed proceeds from last year’s sale. Image of nurses and their supporters rallying outside the Delaware County Courthouse via Margo Reed, Philadelphia Inquirer.

A disagreement over how much Prospect Medical Holdings has paid so far to buy the five hospitals in the Crozer-Keystone Health System has cut deep, but a new breakthrough last week promises to bandage up those differences.

Prospect and Crozer-Keystone have agreed to arbitration in order to settle a disputed $21.5 million that Crozer-Keystone Community Foundation believes is due from the $300 million sale last year, according to a Philadelphia Inquirer report by Jane Von Bergen.

“We’re hopeful to be able to move forward in partnership with Prospect as opposed to an antagonistic relationship,” said the foundation’s lawyer, Newtown Square’s Rocco P. Imperatrice III. “We feel there should be a synergy between our charitable foundation and the healthcare providers to the citizens of Delaware County.”

The issue is being settled through Delaware County Orphans’ Court, and the money, if awarded, would go to the new Crozer-Keystone Community Foundation.

“Prospect remains strongly committed to ensuring that Crozer-Keystone Health System continues to prosper and grow as the leading health system in Delaware County,” a Prospect statement read. “We also look forward to continuing to collaborate with the foundation to help meet the healthcare needs of Delaware County residents.”

Read more about the arbitration agreement in the Philadelphia Inquirer here, and check out previous DELCO Today coverage of Crozer-Keystone here.

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