ChristianaCare in a Deal to Acquire Crozer Health System

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The entrance to Delaware County Memorial Hospital.
Image via Crozer Health.

ChristianaCare Health System has a letter of intent to acquire Crozer Health from Prospect Medical Holdings, writes Kenny Cooper for WHYY.

Wilmington-based ChristianaCare will take over Crozer’s four Delaware County hospitals, including all assets, real estate, and operations.

The deal returns Crozer Health to non-profit status.  It’s been owned by the for-profit Los Angeles-based company, Prospect Medical Holdings, since 2016.

ChristianaCare has been reaching into the Philadelphia suburbs, particularly i southern Delco and Chester  County.

The two health systems will work toward a “definitive agreement” with a deal expected to close in the second half of 2022.

All four Crozer Health hospitals will remain open.

“This is one of the most stabilizing forces, all of the physicians and community board members that we have met with and explained what is about to happen, [it] was seen as extremely positive, because this is a stabilizing force,” said Kevin M. Spiegel, Crozer Health CEO.

Crozer Health is one of the largest employers in Delaware County, with about 4,000 employees.

Spiegel admitted there have been rough times in the healthcare industry.

“The last couple of years have been extremely challenging with COVID impacting our health system,”  Spiegel said.

Read more at WHYY about the acquisition of  Crozer Health by ChristianaCare.

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