Tower Health, the Berks County hospital network that has lost hundreds of millions of dollars since expanding into Southeastern Pennsylvania four years ago, announced Friday that it has decided to remain independent, aided by an alignment with Penn Medicine, the largest health system in the Philadelphia region, The Philadelphia Inquirer reports.
Since last fall Tower has been exploring the potential sale of individual hospitals or of the entire enterprise, an effort that was complicated by Tower’s massive $1.5 billion debt load. Buyers were not interested in assuming that debt, which Tower could shed only through bankruptcy. Read more.
