Tower Health, Drexel Complete $50M Deal for St. Christopher’s Hospital for ChildrenDecember 16, 2019 |
by John George
West Reading-based Tower Health and Drexel University in Philadelphia have finalized their $50 million acquisition of St. Christopher’s Hospital for Children.
The proposed deal for the 188-bed North Philadelphia pediatric medical center was approved in September by the U.S. Bankruptcy Court in Delaware. The closing of the sale, which became effective Sunday, returns the 144-year-old specialty hospital to nonprofit status — something it had not been under its previous two owners.