The five hospitals, including Pottstown Memorial Medical Center, that Tower Health took over in a $418 million deal in early October nearly broke even for the quarter than ended Dec. 31, according to Tower reports.
Brandywine Hospital, Chestnut Hill Hospital, Jennersville Regional Hospital, Phoenixville Hospital, and Pottstown Memorial Medical Center had an operating loss of $40,892 on revenue of $155.2 million — compared to an operating loss of $17 million in the 12 months ended June 30, when they were still owned by Community Health, writes Harold Brubaker on phillynews.com.
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A key part of Tower’s strategy to become what it called an “integrated provider/payer system” through a joint venture with UPMC Health Plan to sell health insurance in nine eastern Pennsylvania counties, excluding Philadelphia.
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