Prospect Medical Denies Reports That It’s Selling Delaware County Hospitals

Delaware County Memorial Hospital in Drexel Hill.
Image via Delaware County Memorial Hospital.

Prospect Medical Holdings, owner of Crozer Health, is disputing a media report that its Delaware County health system is up for sale, writes John George for Philadelphia Business Journal.

The for-profit hospital management company said it is conducting a “standard strategic review to explore new opportunities and consider developing partnerships with other organizations” for its hospitals.

The company said such reviews in a post-pandemic state help see what is in the best interest of Prospect Medical, its hospital and facilities, employees and patients.

“Although reports have claimed this review is a precursor to the sale of our hospitals, we do not know what opportunities, if any, will arise out of the review,” the company said.

It could lead to a number of options, including a partnership with another organization, a strategic investment, or additional opportunities, Prospect said.

The Philadelphia Inquirer reported Oct. 21 that four industry sources indicated Prospect was placing the hospitals up for sale.

The affected hospitals are Crozer-Chester Medical Center, Delaware County Memorial Hospital, Taylor Hospital in Ridley Park, and Springfield Hospital.

Prospect Medical said it will continue to operate, provide services, “and make ongoing investments in our hospitals and facilities, our people, and the communities we serve.”

Read more in the Philadelphia Business Journal.