Temple University Health System considers shedding hospitals to strengthen finances

Philadelphia-based Temple University has hired Juniper Advisory to explore strategic options for Temple University Health System, according to the Philadelphia Business Journal.

Juniper will help the health system pursue strategic options, including the possible sale of two hospitals in Philadelphia: Fox Chase Cancer Center and Jeanes Hospital.

The university retained Juniper's services less than two months after Temple's board of trustees authorized several steps to improve the health system's finances, including hiring a financial adviser and a chief restructuring officer. The system appointed Stuart McLean, formerly a consultant with Alvarez & Marsal, as chief restructuring officer.

Temple University Health System ended fiscal year 2017 with a net loss of $5.8 million. In fiscal 2016, the system reported a $4.4 million net profit, according to the report. 

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