If the sale is completed, it would begin a new chapter for health care services Delaware County. Crozer Health has facilities in Chester, Ridley Park, Springfield and Broomall.
Prospect Medical Holdings Inc. announced a preliminary deal on Aug. 5 to sell Crozer-Chester Medical Center in Upland and other properties.Crozer Health could get a new owner under a preliminary agreement announced Wednesday by Prospect Medical Holdings Inc, the California for-profit firm that has controlled the financially beleaguered
The plan calls for CHA to work with Healthcare Preferred Partners, an affiliated company, on the management of Crozer and its conversion back into a nonprofit. That’s what CHA did with the former Memorial Hospital ofin New Jersey. It sold that property to Inspira Health after about four years, while the hospital continued losing money.in a deal valued at $300 million. Los Angeles private-equity firm Leonard Green & Partners was Prospect’s majority owner at the time.
The terms of the MPT real estate sale, described as a sale-lease-back, required Prospect to pay rent on buildings it used to own.
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