Healthcare DIVE August 9, 2024
Prospect has sought to divest the struggling four-hospital system since 2022.
Dive Brief:
- Prospect Medical Holdings signed a letter of intent to sell four-hospital system Crozer Health to real estate company CHA Partners, Crozer said Wednesday.
- Crozer said it would work with New Jersey-based CHA Partners, Prospect and a consulting firm, Healthcare Preferred Partners, over the next several months to iron out deal terms. The final transaction is contingent upon a successful completion of a definitive agreement and the standard regulatory approval process.
- The deal would be a much needed win for Prospect, which has unsuccessfully tried to divest Crozer since February 2022. The Los Angeles-based company is facing similar difficulty selling hospitals in Rhode Island and Connecticut....
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