Industry News

Court Approves Sale of Crozer-Keystone Health System

The Philadelphia Business Journal reported that a Pennsylvania court approved Prospect Medical Holdings' purchase of Crozer-Keystone Health System, the last regulatory hurdle before the merger can be finalized. Under the deal, Prospect will pay roughly $300 million for the five-hospital health system, a figure that includes assumption of $160 million in debt, $120 million in pension fund obligations, and $15 million in liability insurance coverage. Prospect also pledged to invest $200 million in the health system over the next five years.

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