Tower Health, which owns Brandywine, Phoenixville, and Jennersville hospitals, is being eyed by nearly a dozen potential bidders, writes John George for Philadelphia Business Journal.
According to Sue Perrotty, Tower Health’s interim CEO, interested healthcare organizations are currently reviewing information they have received from struggling health systems. These include entities based in the region, as well as farther away.
Tower Health, which owns a total of six hospitals in southeastern Pennsylvania, started formally accepting proposals from interested parties last week. The health system first began exploring a potential sale of its hospitals late last year.
Perrotty said that the system has received offers both for separate hospitals and the entire system.
“It raised in our mind whether we are worth more than the sum of our parts,” said Perrotty. “The greatest value may be not to shed any parts, but to offer what we built, which is really quite a spectacular healthcare infrastructure, to a partner that can live by the requirements we have for the communities we serve.”
The main requirement is to continue running the hospitals as nonprofit medical centers.
Read more about Tower Health in the Philadelphia Business Journal.