Temple Health, partners to purchase Chestnut Hill Hospital from Tower Health
Temple Health will manage the facility which will be named Temple Health-Chestnut Hill Hospital following the acquisition.
PHILADELPHIA (WPVI) -- Temple Health is partnering with Redeemer Health and Philadelphia College of Osteopathic Medicine to purchase Chestnut Hill Hospital from Tower Health, the newly formed alliance announced Monday.
Temple Health will manage the facility, which will be named Temple Health-Chestnut Hill Hospital following the acquisition.
"Together, our organizations bring the expertise, resources, operational excellence and skilled clinical care to ensure that Chestnut Hill Hospital remains a durable and sustainable resource for the eastern Montgomery County and northwest Philadelphia communities," Michael Young, President and CEO of Temple Health, said in a statement.
According to the three members, the alliance was formed to pursue "collaborative affiliations that will benefit patients and add value to the communities they serve."
Jay Feldstein, President and CEO of PCOM, said this move will help strengthen the college's clinical and graduate medical education capabilities.
"Most importantly, Chestnut Hill Hospital will continue to serve as a critical resource for the surrounding communities," Feldstein said.
Chestnut Hill Hospital, located on the 8800 block of Germantown Avenue, was founded in 1903. The 148-bed teaching hospital's specialties include minimally invasive laparoscopic and robotic surgery, cardiology, gynecology, oncology, orthopedics, urology, family practice and internal medicine.
"Tower Health is pleased and grateful that Chestnut Hill Hospital will continue to serve the community as part of an alliance of highly-respected and locally-based non-profit healthcare institutions," P. Sue Perrotty, Tower Health President and CEO, said.
