Sponsored by VMG Health | info@vmghealth.com | 214.369.4888

Philadelphia hospital sells for $50M

West Reading, Pa.-based Tower Health and Drexel University completed the $50 million acquisition of St. Christopher's Hospital for Children in Philadelphia on Dec. 15.

St. Christopher's was put up for sale after it and Philadelphia-based Hahnemann University Hospital filed for Chapter 11 bankruptcy at the end of June. Hahnemann closed in September, the same month Tower Health and Drexel University entered into a $50 million agreement to acquire St. Christopher's.

With the sale complete, 188-bed St. Christopher's will return to nonprofit status.

"We are grateful for the continuing dedication and hard work of the physicians and employees at St. Christopher's," Tower Health President and CEO Clint Matthews said in a press release. "We are excited about a bright future for St. Christopher's as it continues to serve as a center for healthcare, medical education and research, and innovation."

More articles on healthcare industry transactions:

Tenet to sell 2 Tennessee hospitals as part of $350M deal
4 Chicago hospitals in talks to combine
Buyer of 4 California hospitals misses closing deadline

Copyright © 2025 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.


You can unsubscribe from these communications at any time. For more information, please review our Privacy Policy
.
 

Articles We Think You'll Like

Thank you so much for your interest in our content. Please register to access this complimentary archived content. By registering, you will receive our newsletter which can be opted out of at any time.

 

 

Already Registered? Click here to confirm.