The California-based owners of Crozer Health, Delaware County’s largest hospital system, are facing a critical financial situation as they seek at least $9 million to prevent the closure of Crozer-Chester Medical Center and Taylor Hospital. Without immediate funding, the hospital system could begin diverting ambulances and patients to other facilities as soon as Thursday morning. The owners have been working to secure a new buyer for the health system but are running out of time and money.
Bankruptcy attorneys for Prospect Medical Holdings are in a race against the clock to keep the hospitals open and reach a sale agreement before it’s too late. While $20 million in taxpayer money has been used to keep the hospitals afloat, a consortium of potential nonprofit buyers is still far apart on the issue of long-term funding. The delay in reaching a deal has led to increasing uncertainty, with the bankruptcy judge expressing disappointment in the lack of progress.
The judge stressed the importance of understanding the high stakes for hospital workers and patients, emphasizing that any money put into a sale would be dedicated to keeping the hospitals open and not turning into profit for the bankrupt Prospect or its creditors. As the situation reaches a critical point, the future of Crozer Health hangs in the balance, with the potential for closure looming if a solution is not found soon.
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