Joseph B. Wolffe Trust has received multiple offers for Valley Forge Medical Center In East Norriton, an addiction treatment facility that has been on the market for four months, writes John George for the Philadelphia Business Journal.
According to Beth Wolffe, a trustee for the owner of the medical center, the offers are “from behavioral health care providers who are interested in the hospital as a going concern.”
Wolffe, who did not disclose the exact number of offers or who made them, but indicated that the ownership group is in the process of meeting with potential buyers.
“We want to understand their interest and their terms before we settle on a preferred provider to go with,” she said.
Valley Forge Medical Center focuses on treating adults with substance abuse, as well as associated physical, social, and psychological disorders. It employs 200 staff and is headed by CEO Gregg Slocum.
It was put up for sale by the trust due to mounting financial losses. The center generated operating revenue of $12.7 million in fiscal 2018 with a net loss of $324,000.
Read more about Valley Forge Medical Center at the Philadelphia Business Journal by clicking here.