Crozer Health in Delaware County Is For Sale, But Is Anyone Buying?

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The entrance to Crozer Health's Delaware County Memorial Hospital in Drexel Hill.
Image via Crozer Health.
Delaware County Memorial Hospital, one of the hospitals currently closed in the Crozer Health system.

It’s been more than three months since the Crozer Health system went up for sale as part of a Common Pleas court-sanctioned deal between the Pennsylvania Attorney General and Prospect Medical Holdings, the owner of Crozer Health.

Neither Crozer nor state officials can say if any prospective buyers have come forward, writes Harold Brubaker for The Philadelphia Inquirer.

“The confidential sale process is progressing, and our office remains actively engaged,” Attorney General spokesperson Brett Hambright said in an email.

Crozer declined to comment.

The attorney general’s timeline called for Prospect to sell Crozer Health to a nonprofit by the end of June and complete the sale by the end of October.

Health-care experts say a Crozer buyer would have to salvage the system from a large pension liability, years of deferred maintenance, and a $150 million mortgage owed to the real estate investment firm Medical Properties Trust, which acquired most of Prospect’s hospital real estate in 2019.

No one can force anyone to buy Crozer Health, but officials from PA Gov. Josh Shapiro’s office have been talking with local health system leaders about stabilizing the Crozer-Chester Medical Center, which serves a vulnerable population in Chester.

Read more about Prospect Medical’s current financial situation in The Philadelphia Inquirer.


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