This Week’s Philadelphia Deal Sheet: Vybe Urgent Care Plots Delco Expansion Following Crozer Shutdown
The healthcare gap in Delaware County caused by Crozer Health’s shutdown has opened a window of opportunity for hospital alternatives.
Bala Cynwyd-based Vybe Urgent Care is plotting a fourth Delco outpost after its location in Folsom saw a 20% increase in patient volume, the Philadelphia Business Journal reported. That is located less than a mile from Crozer’s shuttered Taylor Hospital in Ridley Park.
Vybe founder Peter Hotz declined to reveal where the new location is going but said his company has already hired four former Crozer employees to fill open physician assistant, X-ray technologist and medical assistant positions.
“When I started this company, it was to improve access to primary care in areas of the city where there was a need,” he told the PBJ. “But what was an urban problem has become a suburban problem with situations like what happened at Crozer Health.”
The healthcare provider was acquired by California-based Prospect Medical Holdings in July 2016. The parent company filed for bankruptcy protection in January.
Pennsylvania Gov. Josh Shapiro railed against private equity’s involvement in the commonwealth’s healthcare systems earlier this month.
“We’ve seen what happens when corporate raiders like Prospect Medical Holdings prioritize profits over patients — families lose access to care, healthcare workers lose their jobs and communities across the Commonwealth suffer,” he said.
“We cannot allow for-profit companies to treat our hospitals like piggy banks they can smash and walk away from.”
PEOPLE
Mike Cromer was hired by IMC Construction as Mid-Atlantic vice president. He will be based out of IMC’s new office at the University of Delaware’s STAR Campus in Newark.
The Delaware native and licensed geologist has more than 25 years of experience in environmental consulting, brownfield remediation and land approvals.
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Wayne-based PPR Capital Management has added Investor Data Analyst Simon Censor to its team. He previously worked at Windfall Data, Rutgers University Foundation and Villanova University.
LEASES
Accesso has signed 31K SF worth of leases at its four-building Westlakes complex in Berwyn.
That includes LPL Financial’s 10-year extension and expansion, which brings its total space at the office park to 9,000 SF. Sequoia Financial signed a five-year extension and expansion, bringing it to a total of 8,000 SF.
CONSTRUCTION AND DEVELOPMENT
The Michaels Organization and the Housing Authority of the City of Camden will break ground on their redevelopment of Ablett Village with a ceremony Thursday morning.
The project will bring 78 new energy-efficient townhomes to the public housing complex on the corner of River Avenue and East State Street in the Cramer Hill neighborhood.
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Trammell Crow Co. broke ground on a 376K SF warehouse at 901 York Road in Carroll Township about 15 miles southwest of Harrisburg. The project, located on 35 acres, is expected to deliver in April 2026.
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Allentown-based Serfass Development & Construction is building a 154K SF industrial building outside of Harrisburg, according to a social media post. The structure near the intersection of interstates 78 and 81 in Union Township will have 32-foot clear heights.
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The three-story Olsen Family Patient Care Pavilion currently under construction will bring 36 new private inpatient suites to the Deborah Hospital in Pemberton Township, New Jersey. The project is scheduled to deliver sometime next month.
FINANCING
More than $900K worth of state funding has been secured for the Gateway on Fourth project in Bethlehem, state Sen. Lisa Boscola said in a Facebook post. The mixed-income, mixed-use building will include 120 units and commercial space spread across two buildings.
