Philadelphia-based Thomas Jefferson University signed an agreement with Temple University, also in Philadelphia, to create an exclusive 90-day window to negotiate the acquisition of Temple University Health System's Fox Chase Cancer Center.
Jefferson Health, affiliated with the university, is already home of the Sidney Kimmel Cancer Center. During the 90-day period, each party will perform due diligence to evaluate whether a deal would benefit cancer patients while also serving each organization's strategic interests.
"The negotiation period will allow us to better understand how partnering could improve lives for patients throughout Philadelphia and far beyond," said Stephen Klasko, MD, president of Thomas Jefferson University and CEO of Jefferson Health. "Just imagine the potential of combining the stellar researchers and clinicians of Fox Chase Cancer Center with the outstanding experts at Sidney Kimmel Cancer Center at Jefferson. This could save — and change — lives forever."
As part of the potential agreement, Thomas Jefferson University and Temple University would also enter into a long-term oncology-related academic affiliation.