West Reading, Pa.-based Tower Health’s $28 million sale of Philadelphia-based Chestnut Hill Hospital to a consortium led by Philadelphia-based Temple University Health System has been approved by an Orphans Court judge, Becker’s reports.
Temple will own 60% of the hospital, and its partners Meadowbrook, Pa.-based Redeemer Health and the Philadelphia College of Osteopathic Medicine will split the rest. The consortium could pay an additional $4 million to Tower Health for transition services.
Under the terms of the agreement, the consortium will take over the 148-bed hospital on Jan. 1. Read more.
