US EditionCrozer Health funding deadline set by Prospect passes quietly; no closure today, AG says
- Prospect's attorney Curtin set a 4 p.m. Wednesday deadline for $9 million to avoid closure.
- Crozer Health's financial struggles prompted Prospect to seek funds from various entities.
- Prospect threatened closure to get funding; money goes to health system operations.
- Curtin stated, "If we can't get over those hurdles, there's just not a path forward."
- The $40 million provided earlier has been exhausted; closure remains a possibility by Prospect.
13 Articles
13 Articles
Commentary: Hospital closures and buyouts are on the rise. Pa. must act to prevent disaster. • Pennsylvania Capital-Star
The Crozer-Chester Nurses Association and local lawmakers picket outside Crozer-Chester Medical Center in Upland, Pa., last May, to protest actions by the hospital’s owner, the for-profit chain Prospect Medical Holdings. Private equity firms have been buying up hospitals in recent years; cutbacks and closures sometimes follow. (Courtesy of the Pennsylvania Association of Staff Nurses and Professionals)Hospital closures, buyouts, and service clos…
Prospect begins transitioning Crozer Health services and assets
With no closure or asset purchase agreement for Crozer Health, Prospect Medical Holdings started transitioning some of its services — such as ob/gyn — out of the system “We don’t have a sale, we don’t have a certain APA but we also don’t want to go to closure,” Prospect attorney William E. Curtin told a northern Texas bankruptcy court Thursday. “We want to make it abundantly clear … if any party, any of the parties of interest here have a soluti…
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Crozer Health funding deadline set by Prospect passes quietly; no closure today, AG says
The deadline imposed by Crozer Health parent company Prospect Medical Holdings for some entity to provide $9 million more to keep Crozer afloat appeared to pass quietly on Wednesday. That deadline was set Tuesday during a federal bankruptcy court hearing by the attorney representing Prospect at those proceedings. One person with knowledge of the proceedings noted Prospect had threatened to file a motion for closure several times in the past as a…
Prospect Medical Holdings says Crozer Hospitals could close Thursday without $9M in funding
The future of Delaware County's largest hospital system is uncertain once again. On Tuesday, Prospect Medical Holdings, the owners of Crozer Health, told a bankruptcy judge that it needs $9 million by Wednesday at 4 p.m. to keep Crozer-Chester Medical Center in Upland and Taylor Hospital in Ridley open for another two weeks while it tries to negotiate a sale. Prospect said if it doesn't have the money wired to them by Wednesday afternoon, closur…
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