ChristianaCare has reached a preliminary agreement to acquire financially troubled Crozer Health, a deal that would bring Delaware’s largest health system into Southeastern Pennsylvania’s highly competitive market, up against Penn Medicine, Jefferson Health, and Main Line Health, the Philadelphia Inquirer reports.
ChristianaCare and Crozer’s owner, Prospect Medical Holdings Inc., announced their tentative agreement today, about four months after Prospect, a for-profit based in Los Angeles, hired Morgan Stanley to sell Crozer and other East Coast hospitals.
Terms were not disclosed.
The acquisition could be a risky move for ChristianaCare, some health-care experts said as speculation mounted about the deal. ChristianaCare is cash rich but would face a lot of competition in Delaware County. It’s also possible that the deal could fall apart. Read more.
