Farmington, Conn.-based UConn Health, in partnership with the state, plans to invest around $250 million over the next five years in Waterbury (Conn.) Hospital. UConn Health received approval from the Connecticut General Assembly to purchase Waterbury Hospital, part of Los…
Prospect Medical Holdings
The Connecticut General Assembly approved legislation on Nov. 13 for Farmington, Conn.-based UConn Health to invest in Waterbury (Conn.) Hospital, part of Los Angeles-based Prospect Medical Holdings. “The action by lawmakers marks a major milestone in UConn Health’s proposal to…
Farmington, Conn.-based UConn Health has submitted a $13 million bid to take over Waterbury (Conn.) Hospital, part of Los Angeles-based Prospect Medical Holdings, according to a Nov. 11 news release. Prospect Medical owned three Connecticut hospitals, including Waterbury, and has…
Los Angeles-based Prospect Medical Holdings received bankruptcy court approval on Aug. 4 to abandon two of its closed Pennsylvania hospitals, Drexel Hill-based Delaware County Memorial Hospital and Ridley Park-based Taylor Hospital, should efforts to sell the properties fall through. Prospect,…
A judge has approved $30 million in emergency debt financing for Los Angeles-based Prospect Medical Holdings to avoid service cuts and layoffs at its California and Connecticut hospitals, CT Insider reported July 11. Prospect, which sought Chapter 11 protection in…
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Los Angeles-based Prospect Medical Holdings has shared plans to lay off 125 employees at its Orange, Calif.-based Prospect Medical Group location, according to a June 20 WARN notice obtained by Becker’s. The layoffs are due to ” the sale of…
Pennsylvania Rep. Craig Williams is pushing efforts to purchase and reopen facilities such as Upland, Pa.-based Crozer-Chester Medical Center after it closed May 2 due to Los Angeles-based Prospect Medical Holdings’ closure of Upland-based Crozer Health. On June 24, Mr.…
Newark, Del.-based ChristianaCare is set to acquire five Upland, Pa.-based Crozer Health outpatient locations in Pennsylvania for $50.3 million after Crozer shared plans to shut down and lay off employees in late April. Crozer closed its Ridley Park, Pa.-based Taylor…
Some of Los Angeles-based Prospect Medical Holdings’s hospitals in Connecticut have secured interest from ‘multiple buyers’ after a $435 million deal with Yale New Haven Health (Conn.) to buy all three facilities was dubbed “impossible” in February, The Middletown Press…
The Borough of Ridley Park (Pa.) has declared an emergency due to Upland, Pa.-based Crozer Health’s ongoing financial struggles. The health system, which is part of Los Angeles-based Prospect Medical Holdings, secured $6 million the week of April 7 to…