After months of court hearings and negotiations with various stakeholders, Upland, Pa.-based Crozer Health will shut down and lay off more than 2,600 employees, according to a closure notice from parent company Prospect Medical Holdings. In a letter shared with state officials, Los Angeles-based Prospect said it had been working with the Pennsylvania Attorney General’s office to facilitate a sale of Crozer-Chester Medical Center and Taylor Hospital, NBC Philadelphia reported April 21. However, on April 18, the company learned that no prospective buyers — including the University of Pennsylvania Health System, which had offered $5 million to extend negotiations — would proceed.
Read the full article: ‘We Worked Tirelessly to Avoid This Outcome’: Crozer Health to Shut Down //
Source: https://www.beckershospitalreview.com/finance/we-worked-tirelessly-to-avoid-this-outcome-crozer-health-to-shut-down/