Tower Health has entered into a definitive agreement with Canyon Atlantic Partners, LLC, which will assume ownership and operation of the facilities effective January 1, 2022. Canyon Atlantic Partners is a hospital ownership and management organization with extensive experience and expertise in healthcare operations, healthcare finance, and the strategic integration of hospitals and healthcare resources.
"There was extensive work done to find a solution for Jennersville and Brandywine Hospitals, and we are pleased to have identified one that keeps both hospitals open," said C. Tom Work, chair of Tower Health’s Board of Directors. "This transfer of ownership will ensure continued, convenient access to care for the Jennersville and Brandywine communities. It will also further advance Tower Health’s financial and operational turnaround, positioning us to deliver on our mission well into the future."
Under the agreement, Canyon Atlantic Partners will assume all Brandywine and Jennersville Hospital assets and operations as of January 1, 2022. This means all clinical and non-clinical staff in good standing at the hospitals will be offered employment by Canyon Atlantic Partners effective on the date of transfer. Canyon Atlantic Partners will also assume ownership of all inpatient and outpatient services associated with the hospitals.
"We listened to the community and redoubled our efforts to keep Jennersville and Brandywine Hospitals open," said Sue Perrotty, president and CEO of Tower Health. "We are deeply grateful for the commitment of our staff, who showed steadfast dedication to our patients throughout this process. We have a lot of hard work ahead but believe this transaction represents the best opportunity for the two hospitals."
"Canyon Atlantic Partners is honored to be chosen to build on the accomplishments of Tower Health and will prioritize working closely with their communities and medical staff to ensure we meet their needs," said David Kreye, president and CEO of Canyon Atlantic Partners. "We look forward to bringing our substantial experience in acute care hospital turnaround and growth to further elevate the hard work of the excellent medical staff at Brandywine and Jennersville Hospitals, and ultimately making an impact with the greater community that they serve."
While planning for the transfer of operations continues, Tower Health has suspended planning for the closure of Jennersville Hospital.
About Tower Health
Tower Health is a strong, regional, integrated healthcare provider/payer system that offers leading-edge, compassionate healthcare and wellness services to a population of 2.5 million people. With approximately 14,000 team members, Tower Health consists of Reading Hospital in West Reading; Brandywine Hospital in Coatesville; Chestnut Hill Hospital in Philadelphia; Jennersville Hospital in West Grove; Phoenixville Hospital in Phoenixville; Pottstown Hospital in Pottstown; and St. Christopher's Hospital for Children, a partnership of Tower Health and Drexel University in Philadelphia. It also includes Reading Hospital Rehabilitation at Wyomissing; Reading Hospital School of Health Sciences in West Reading; home healthcare services provided by Tower Health at Home; and a network of 25 urgent care facilities across the Tower Health service area. Tower Health Medical Group includes approximately 800 primary and specialty physicians in more than 100 locations. For more information, visit towerhealth.org.