Christiana boosts Pennsylvania presence with Crozer buy
Delaware-headquartered Christiana Care Health System is to buy Crozer Health from Prospect Medical Holdings. The acquisition will add Crozer’s four Pennsylvania hospitals with 4,000 employees to Christiana’s network.
The letter of intent signed by the businesses also includes the hospitals’ related companies, real estate assets, Crozer Health Medical Group and the associated assets, ambulatory centres, medical office buildings, physician clinics and ancillary outpatient services.
The organisations expect to conclude the deal in the second quarter of 2022 or possibly the second half, subject to regulatory approvals. Once finalised, ChristianaCare will return Crozer, which currently operates commercially, to nonprofit status. as part of ChristianaCare. Crozer Health
Christiana Care Health System has various subsidiaries, including Christiana Care Health Services and its Cayman-registered captive, the Christiana Care Insurance Company, which provides its primary medical professional liability and primary general liability insurance coverages.