Prosecutor General and owner of health Crozer Pennsylvania According to the court, Prospect Medical Holdings agreed to put a ephemeral manager, the largest healthcare system in Delaware, for at least 30 days Submission on Thursday regarding bankruptcy prospect.
The agreement calls the state to provide an indefinite amount of financial support during this period. Governor’s office Josh Shapiro did not immediately answer at the request for comment and detailed information about how much money will be delivered.
The application says that FTI Consulting Inc. He will accept activities as soon as the meeting receives the court’s consent. FTI is a domestic advisory company with a department ensuring crisis management for healthcare operators.
If the contract enters into force, it is at least a low -term maintenance plan Delaware County Hospitals in Delaware. The healthcare system loses millions of dollars each month, his lawyer told the bankruptcy judge.
At the beginning of this week, the lawyer warned that the company was ready to announce the closing of the Crow-Crow Medical Center in Upland and Taylor Hospital at Ridley Park at a court trial planned for this afternoon.
The contract will give stakeholders more time to examine the options. Court hearing starting at 15:30 at the Bankruptcy Court in Texas According to the program published at the bankruptcy court, it will be used to consider the recipient’s nomination.
“It is very important that the judge recognizes the impact of these hospitals on our communities and prioritizes public good in this decision,” said Tim Kearney senator, democrat of Delaware.
The agreement submitted to the American Bankruptcy Court for the Northern Texas district did not say what would happen after the recipient. The document recalls that Prospect, a company focused on profit based in California, is legally obliged to service hospitals until June 2026.
The administration of the governor Josh Shapiro said that she wants to go Crozer to the modern non -profit organization supported by a consortium of local non -profit health care systems, but according to sources involved in the discussions, slight progress was made.
The state has been working for over a year to keep Crozer, which supports a low income area without uncomplicated access to other healthcare options. Prospect previously closed two other Crozer hospitals in Springfield and Drexel Hill.
»Read more:(*30*) Tries to preserve Crozer health care services among the potential bankruptcy
The patient’s care spokesman, appointed by the bankruptcy court in order to ensure that the care will not deteriorate in bankrupt hospitals, he visited Crozer-Chaster and Taylor this week. “She watched excellent patient care during her trips,” in accordance with the statement made in the bankruptcy court on Thursday.
The spokesman encouraged the perspective and others to continue looking for ways to maintain open hospitals. “Hospitals in Pennsylvania provide critical services of an older population with lower income, which may not have resources (including transport) to receive care elsewhere,” he said.
Emergency departments in two Crozer hospitals took a total of 65,000 visits in 2023. Two units that share one license were the sixth most busy ED in south -eastern Pennsylvania outside Philadelphia, in accordance with health data. The spokesman noted that many of these patients relied on ED in the field of primary healthcare.
If Crozer was to close, the nearest hospitals to Crozer are the Riddle Line Health hospital near the media and Trinity Health Fitzgerald Mercy in Darby, both almost 10 miles from the car.
The story of Crozer under the perspective
Thousands of healthcare workers in Crozer worked for years of uncertainty, because Prospect acquired the then non-profit system in 2016. At that time, Prospect was controlled by the Equity capital company.
Three years after taking over, Prospect sold Crozer real estate under a 14-subalted contract, which collected $ 1.55 billion. Some of this money were used to pay off the debt, which financed $ 457 million dividends for directors of potential customers and private equity investors. The sale of real estate required Crozer and other Prospect health care systems to rent the real estate they used.
In the autumn of 2021, when the Coronevirus Pandemia slammed financial hospitals, Prospect began to sell Crozer and other hospitals on the east coast in Connecticut and Rhode Island.
The initial agreement in 2022 for the sale of Crozer Christicacare, the largest healthcare system in Delaware, broke up when Christicacare decided that the contract did not make sense financially. Christiancare is now preparing for competing with Croz, building two micro-hospital in Delaware. The first is to be opened next year in Aston.
CHA Partners LLC, a company dealing with real estate in New Jersey, which specializes in buying hospital real estate and reconstruction in medical facilities with mixed exploit, in August has reached a preliminary contract to take over Crozer, with a purpose of transferring him to a modern non-profit organization. This agreement ended when a financial agreement could not be achieved.
Editor’s attention: This is a developing story and will be updated. Earlier updates added information from court reports, a comment from the legislator of state and origin about the history of Crozer.
