A Michigan for-profit hospital company, Insight Health, is a potential purchaser of Crozer Health’s two hospitals, Crozer-Chester Medical Center and Taylor Hospital, according to court filings in the bankruptcy proceedings with Crozer owner Prospect Medical Holdings.
The company is known for taking over hospitals in distress, writes Harold Brubaker for The Philadelphia Inquirer.
Houlihan Lokey, an investment bank trying to sell Crozer Health during the bankruptcy, named Insight as a potential buyer for the two hospitals.
An article in The American Prospect about Insight Health described it as “Ambulance Chasers of Totaled Hospitals.”
Insight Health was founded by neurosurgeon Jawad Shah in Flint, Michigan, before expanding into Chicago, where it acquired a hospital from Trinity Health for $1 in 2021.
It was chosen last fall by Crozer Health landlord Medical Properties Trust to take over two Ohio hospitals from the bankrupt Steward Health Care.
Its arrival is happening at a time when Pennsylvania Gov. Josh Shapiro’s office and the state Attorney General’s office are trying to convince local nonprofits to acquire Crozer Health.
https://vista.today/2024/09/christianacare-microhospitals-aston/Pennsylvania and Delaware County provided $20.2 million early this month to keep Crozer open for 30 days under a temporary manager.
Find out more about Insight Health in The Philadelphia Inquirer.
