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Temple to sell Fox Chase Cancer Center

Philadelphia-based Temple University has agreed to sell Fox Chase Cancer Center and its interest in Health Partners Plan to Thomas Jefferson University in Philadelphia.

The announcement comes after roughly six months of negotiations. Temple University and Thomas Jefferson University expect to enter into a definitive agreement, which will set the final sale price, in coming weeks.

"Together with our pending merger with the Einstein Health Network, this unique collaboration with one of the state's premier universities and health systems will present a statewide and national model for coordinated and enhanced access, quality, and clinical experience for patients throughout the community, especially the vulnerable North Broad street and downtown corridors," Stephen K. Klasko, MD, president of Thomas Jefferson University and CEO of Jefferson Health, said in a press release.

Jefferson Health and Philadelphia-based Einstein Health Network entered into a definitive merger agreement last year. Jefferson and Temple are also among the institutions that are forming a consortium to save St. Christopher's Hospital for Children in Philadelphia.

More articles on healthcare industry transactions:

Hospital M&A activity in Q2: 5 things to know
Maryland health system to acquire 3rd hospital
Tenet makes bid for California hospital

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