Private investors have snatched up Taylor Hospital in Ridley for $1 million, with plans to re-establish medical services there that would include an emergency room, writes John George for the Philadelphia Business Journal.
The group of private investors, known as KQT Aikens Partners, is being led by Todd Strine, majority owner of the Delaware County ambulance company Keystone Quality Transport in Springfield.
The acquisition was reported in documents filed Friday at the U.S. Bankruptcy Court in Texas by Prospect Medical Holdings.
Prospect, which filed for bankruptcy in January, owns the former Crozer Health System, which includes the closed 100-bed hospital at 175 E. Chester Pike in Ridley.
The acquisition deal, which still needs court approval, includes an agreement by Delaware County, Ridley Park Borough, and the Ridley School District to lower the taxable value of Taylor Hospital from an assessed $60 million to a fair market value of $1 million over the next two years.
Taylor Hospital closed in late April. Crozer Health’s other hospital, Crozer-Chester Medical Center in Upland, closed in early May.
Delaware County Memorial Hospital, closed by Crozer Health three years ago, has been sold by Prospect to the Upper Darby School District for $600,000.
Read more about the acquisition of Taylor Hospital in the Philadelphia Business Journal.
