Temple University Health System and Fox Chase Cancer Center, both in Philadelphia, have signed an affiliation agreement, according to a joint news release.
The affiliation will allow Fox Chase to expand its outpatient and surgical care services within its existing facilities and through leased space at Temple affiliate Jeanes Hospital in Philadelphia. This expansion will create a contiguous 47.5-acre "cancer" hub because Jeanes Hospital is adjacent to Fox Chase. In addition, Temple University Health System will invest in cancer research at Fox Chase, allowing Fox Chase to recruit new physician-scientists.
The organizations expect to achieve efficiencies and savings through this cancer care collaboration as they leverage economies of scale.
Update March 19, 2012:
Temple University Health System in Philadelphia will pay $83.8 million for the Fox Chase Cancer Center and immediately invest $30.9 million to expand nearby Jeanes Hospital, according to a Philadelphia Inquirer report.
Health system President and CEO Larry Kaiser expects revenue at Fox Chase to increase from $350 million in the year ending June 30 to $1 billion in five years, according to the report.
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The affiliation will allow Fox Chase to expand its outpatient and surgical care services within its existing facilities and through leased space at Temple affiliate Jeanes Hospital in Philadelphia. This expansion will create a contiguous 47.5-acre "cancer" hub because Jeanes Hospital is adjacent to Fox Chase. In addition, Temple University Health System will invest in cancer research at Fox Chase, allowing Fox Chase to recruit new physician-scientists.
The organizations expect to achieve efficiencies and savings through this cancer care collaboration as they leverage economies of scale.
Update March 19, 2012:
Temple University Health System in Philadelphia will pay $83.8 million for the Fox Chase Cancer Center and immediately invest $30.9 million to expand nearby Jeanes Hospital, according to a Philadelphia Inquirer report.
Health system President and CEO Larry Kaiser expects revenue at Fox Chase to increase from $350 million in the year ending June 30 to $1 billion in five years, according to the report.
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