Three years after shutting down Brandywine Hospital in Coatesville, Tower Health has finally sold the property to a real estate firm from Delaware, writes John George for Philadelphia Business Journal.
Mill Farm LLC, which is affiliated with Dover-based Regal Builders, closed the deal with Tower Health on Monday. The amount was not disclosed, and neither party discussed plans for the site so far. Of the 67 acres, 30 are building, according to Tower.
The sale gives the health system a boost in its financial position by helping to increase liquidity and reduce operational weight.
The purchase does not include the behavioral health building at 219 Reeceville Road, as it is not owned by Tower Health.
Tower Health bought the group of local hospitals, including Brandywine, Jennersville, Phoenixville, and more, in 2017. Due to financial losses from COVID-19 and other issues, Jennersville in West Grove closed in December 2021 and Brandywine closed a month later.
Read more about Regal Builders purchasing Brandywine Hospital in the Philadelphia Business Journal.
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