St. Christopher's Hospital for Children in Philadelphia entered bankruptcy in late June, and several health systems are expected to place competing bids to take over the 188-bed hospital, according to The Philadelphia Inquirer.
St. Christopher's Hospital will be sold at an auction slated for Sep. 19. One bid will come from four Philadelphia-based healthcare organizations, which created a consortium in July to purchase the hospital. The consortium is led by Jefferson Health and also includes Einstein Healthcare Network, Philadelphia College of Osteopathic Medicine and Temple University Health System, according to the report.
Reading, Pa.-based Tower Health may challenge that bid. Tower is expected to make a joint bid with Drexel University in Philadelphia. Independence Health Group, the largest health insurance company in the Philadelphia region, and Philadelphia-based Penn Medicine are reportedly backing Tower Health's anticipated bid, according to the report.
Access the full article from The Philadelphia Inquirer here.
More articles on healthcare industry transactions:
6 hospital mergers called off in past year
Hospital M&A update: 10 latest deals
Top bid for Kentucky hospital falls through