The system reported Oct. 27 that the $28 million acquisition of the hospital from West Reading, Pa.-based Tower Health has resulted in an approximate $7.4 million loss on its investment in the first six months of operations.
Temple University’s 60% stake in the hospital was originally valued at $16.8 million, but the value of that investment was $9.4 million as of June 30, according to the filing. Temple University also had approximately $23.9 million in receivables due from the nonprofit now running the hospital.
Redeemer Health and the Philadelphia College of Osteopathic Medicine each own a 20% stake in the hospital.
The investment loss on the hospital was included in audited financials, which showed Temple University reporting an operating loss of $58.8 million for the year ending June 30.
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