4 Crozer Hospitals Up for Sale in Nearby Delco

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Crozer Chester Medical Center.
Image via David Maialetti, The Philadelphia Inquirer.
Crozer Chester Medical Center in Chester.

The for-profit owner of Crozer Health’s four Delaware County hospitals has put them up for sale, according to four industry sources, writes Harold Brubaker for The Philadelphia Inquirer

Prospect Medical Holdings Inc., the Los Angeles company that has owned the hospitals since 2016, did not immediately respond to a request for comment.

Prospect Medical Holdings acquired the financially weak assets of the nonprofit Crozer-Keystone Health System in 2016 in a $300 million deal. Attempts to find a local buyer were unsuccessful.

The four Crozer hospitals—Crozer-Chester Medical Center in Upland, Delaware County Memorial Hospital in Drexel Hill, Springfield Hospital in Springfield, and Taylor Hospital in Ridley Park—generated $668 million in revenue last year. They had an operating profit of $16 million.

The Pennsylvania Association of Staff Nurses & Allied Professionals, a union representing 1,400 registered nurses and others at three of the hospitals, welcomed the potential sale.

 “We are hopeful that the greater Philadelphia healthcare community recognizes the great value of the facility and that the health system returns to non-profit status and is focused on patient care, not on creating profits from sick patients,” the union said.

Read more at The Philadelphia Inquirer about the sale of the four Crozer hospitals.

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