Hahnemann Residency Programs Draw Winning Bid of $55M From Local Health SystemsAugust 12, 2019 |
by Nina Feldman
Hahnemann University Hospital’s more than 550 residency slots have been sold at auction for $55 million to a consortium of six local health systems. Philadelphia-based Einstein Healthcare Network, Jefferson Health and Temple University Health System joined forces with Main Line Health, Cooper University Health Care in Camden and Christiana Care Health System in Wilmington to win the final bid in a lengthy auction process.
Hahnemann’s owner had reached an agreement to sell its residency slots for $7.5 million to Tower Health, which has six area hospitals in Philadelphia’s suburbs, Chestnut Hill, and Reading. Tower was outbid during an auction process Thursday, which caused Friday’s scheduled Chapter 11 bankruptcy hearing, required to approve the sale, to be postponed.