Tower Health, which recorded its first profitable quarter in five years in the fourth quarter of fiscal 2024, is in final negotiations to sell its Brandywine Hospital campus, writes John George for the Philadelphia Business Journal. 

The hospital closed its doors in January 2022 as part of Tower Health’s turnaround plan. Then earlier this year, the University of Pennsylvania Health System decided to withdraw from a tentative deal to buy the Chester County property. 

“We held out for a couple of years trying to get another health care provider [to buy it], and Penn took a hard look at it to see if it would work for them,” said Tower Health President and CEO Sue Perrotty. “Unfortunately, we are not going to be having a health care provider buy it. The interest is from different kinds of parties, mostly for development.” 

Around 30 acres of the 18-acre property are buildable. However, Perrotty said she could not comment on what the interested parties may be intending to develop on the property while the discussions are still ongoing. 

Read more about the possibility of Brandywine Hospital being sold in the Philadelphia Business Journal.

______

Editor’s Note: This post first appeared on VISTA Today in August 2024.