Prospect Medical Holdings, announced that it intends to sell Crozer Health and its operating assets, including all hospitals, ambulatory surgery centers, clinics, and physician offices, to a not-for-profit consortium of healthcare operators (the “Consortium”). To facilitate the proposed sale, Prospect Holdings has been, and will continue to, work constructively with the Commonwealth of Pennsylvania.
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The proposed sale will support the preservation and continuation of services to all members of the Delaware County communities that rely on Crozer Health for critical medical care. Additionally, the not-for-profit Consortium intends to continue Crozer Health’s longstanding commitment to training new generations of physicians and other health care providers, as well as providing support for community programs that improve the health and well-being of residents and families throughout the area.
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Tony Esposito, Crozer Health Chief Executive Officer, said, “At Crozer Health, our goal is to provide high-quality and personalized care to our patients. By selling Crozer Health to a group of experienced healthcare operators, the communities in and around Delaware County will continue to access and receive the critical healthcare services they require. We appreciate the support of the Commonwealth of Pennsylvania, as well as all parties involved, to make this transition possible.”
The proposed sale remains subject to definitive documentation, which Prospect Holdings intends to file with the Bankruptcy Court in the coming days. The sale agreement will be subject to approval by the Bankruptcy Court and other customary closing conditions. Prospect Holdings will seek Bankruptcy Court approval of the proposed sale at a hearing currently scheduled to occur on February 6, 2025.
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Source – businesswire
