Two health systems and a medical school are coming together to buy Chestnut Hill Hospital, the Philadelphia Business Journal reports.
Temple Health, Redeemer Health, and the Philadelphia College of Osteopathic Medicine (PCOM) said Monday they have signed a definitive agreement under which a newly formed entity, owned by the three-member alliance, will acquire the 148-bed hospital in Northwest Philadelphia.
Financial terms of the proposed deal, which requires approval by both regulators and Tower Health bond holders, are being kept confidential. Chestnut Hill Hospital, founded in 1903, draws patients primarily from Northwest Philadelphia and eastern Montgomery County.
Read more about the plans for Chestnut Hill Hospital at PBJ.com.
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