Wilmington, Del.-based ChristianaCare plans to acquire Springfield, Pa.-based Crozer Health from Los Angeles-based Prospect Medical Holdings after signing a letter of intent.
Through the deal, ChristianaCare would also take over Crozer's related businesses, real estate assets, Crozer Health Medical Group, associated assets, ambulatory centers, medical office buildings, physician clinics and ancillary outpatient services, according to a Feb. 11 news release.
ChristianaCare would acquire the following four Pennsylvania hospitals:
- Upland-based Crozer-Chester Medical Center with 499 beds
- Drexel Hill-based Delaware County Memorial Hospital with 215 beds
- Springfield Hospital, as of Jan. 14 only providing outpatient services
- Ridley Park-based Taylor Hospital with 105 beds
Crozer, which has about 4,000 employees, will return to a nonprofit organization once the deal is finalized.
A definitive agreement is expected for the second quarter of 2022 and a closure of the transaction is expected for the second half of 2022.
"The pandemic has demonstrated the vital importance of working together to meet the clinical needs of the communities we serve," said Kevin Spiegel, CEO of Crozer Health. "We are excited by the potential to join these two great organizations so that we can continue to provide the high-quality, accessible care that our communities — Delaware County and beyond — rely on."