St. Christopher’s Hospital Goes to Auction in Philly

St. Christopher’s Hospital Goes to Auction in Philly

Yet another hospital bankruptcy has led to an auction and a sale. This time it was St. Christopher’s Hospital for Children in Philadelphia, Pennsylvania. The 188-bed hospital is a healthcare outpost in north Philly and one of only two children’s hospitals in the city. In 2018 it and Hahnemann University Hospital were sold by Tenet Healthcare (NYSE: THC) to California investment banker Joel Freedman, represented as American Academic Health Systems LLC (AAHS), for $170 million. Hahnemann’s financial troubles prompted American Academic to file for Chapter 11 bankruptcy protection  on June 30 and led to that hospital’s closure in July 2019. St. Christopher’s... Read More »
Tower Health Adds Urgent Care and ASC Deals

Tower Health Adds Urgent Care and ASC Deals

Tower Health, a six-hospital system across southeastern Pennsylvania, is growing its network rather aggressively lately. On October 2, it announced the acquisition of Premier Urgent Care, which runs 19 urgent care centers in Pennsylvania and Delaware. A week earlier, it reported a new joint venture with United Surgical Partners International (USPI), part of Tenet Healthcare (NYSE: THC). Tower Health is the new name for the former Reading Health System, based in West Reading, Pennsylvania. Until May 2017, the system consisted of Reading Hospital, which housed a cancer institute, a cardiac center, a rehabilitation hospital and a physician network of more than 1,000 physicians. On May 30 of... Read More »