From Delco to Chesco and Montco to Bucks, what about life in Philly’s suburbs do you want WHYY News to cover? Let us know! New Jersey–based real estate firm CHA Partners is no longer interested in acquiring Crozer Health. In August, CHA Partners signed a non-binding letter of intent to purchase the failing four-hospital system in Delaware County from California-based Prospect Medical Holdings. Prospect informed Pennsylvania officials Monday morning that the deal has fallen through, according to sources familiar with the talks.
Neither CHA Partners nor Prospect immediately responded to a request for comment. When CHA Partners signed a letter of intent to acquire Crozer , it planned to transfer the troubled hospital network back to nonprofit status. With Delaware County Memorial Hospital and Springfield Hospital closed, the deal’s success was a necessity for the rest of the system to survive — albeit far from a guarantee.
Prospect has been trying to offload Crozer for years. Wilmington-based ChristianaCare backed out of negotiations to acquire Crozer in 2022 . The latest attempt at saving Crozer from crushing debt was supposed to bring more stability to the hospital system.
In 2023, Prospect agreed to an arrangement with the Pennsylvania Attorney General’s Office and the Foundation for Delaware County to sell the hospital system. The AG’s office did not respond to a request for comment. Who is CHA Partners? Here’s what to know about the New Jersey company looking .
