4 Crozer Health Properties In Delco Hit The Market As Broker Seeks Stalking Horse Bids
Just weeks after it formally shut down, four properties that made up the roughly 600-bed Crozer Health system in Delaware County are up for sale.
Keen-Summit Capital Partners is handling the sale on behalf of Crozer’s California-based parent company Prospect Medical Holdings, according to a listing on the broker’s website.
“Stalking Horse Offers Being Considered Now!” says the webpage with details about the bankruptcy sale.
Keen-Summit will field any offers, including for individual properties and the entire portfolio.
Crozer-Chester Medical Center at 1 Medical Center Boulevard in Upland has about 1.1M SF spread across several buildings on roughly 65 acres. That includes medical office space, specialized care centers and nearly 480K SF of parking in two separate lots.
Delaware County Memorial Hospital at 501 North Lansdowne Ave. in Upper Darby is a nearly 265K SF structure on about 8 acres.
Taylor Hospital at 175 East Chester Pike in Ridley Park is a 165K SF building on almost 14 acres.
The smallest structure is the roughly 92K SF Springfield Hospital at 190 West Sproul Road, which is located on just over 11 acres.
Large swaths of Delaware County were left with diminished emergency medical services when Crozer ceased operations earlier this year. Prospect bought the healthcare system in 2016 and filed for bankruptcy in January.
Pennsylvania Gov. Josh Shapiro railed against private equity’s involvement in the state’s healthcare systems last 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.”
The closure has opened up an opportunity for other healthcare companies.
Vybe Urgent Care recently debuted plans for a fourth Delco location after its Folsom outpost saw a 20% increase in patient volume.
Delaware-based ChristianaCare also plans to open two microhospitals in the county, one in Aston and another in Springfield.
