ChristianaCare announces negotiations to purchase Crozer Health end with no deal.
In a statement, Christiana announced Thursday the deal would not go forward.
ChristianaCare and Prospect Medical Holdings had announced in February a signing of a Letter of Intent for Christiana to acquire Crozer Health.
The deal would have included Crozer-Chester Medical Center, Delaware County Memorial Hospital, Springfield Hospital in Springfield, PA, and Taylor Hospital in Ridley Park.
There was no mention of a specific reason why the deal fell apart, only that the economic landscape had significantly changed since the signing of the Letter of Intent which impacted the ability of the sale to move forward.
It also said both organizations worked very hard to complete the deal and have significant respect for each other, and both remain committed to caring for the health of those in Delaware County.
In a separate statement to Delaware Public Media, ChristianaCare Chief Strategy Officer and General Counsel Jennifer Schwartz, Esq, says they’re disappointed by this outcome.
“We worked hard to reach an agreement for the purchase of Crozer Health, and we are disappointed in this outcome. ChristianaCare very much wants to be a strong partner in Delaware County and in other communities throughout southeastern Pennsylvania. We will continue to explore opportunities to serve the needs of our neighbors.”
Last month, ChristianaCare completed its purchase of Jennersville Hospital in West Grove, Pennsylvania.
