Fox Chase Cancer Center to be sold to Jefferson University

PHILADELPHIA (WPVI) -- Temple University will sell the Fox Chase Cancer Center to Thomas Jefferson University.

Fox Chase has 100 beds and employs 2,000 people.

The final sale price will be set upon completion of the formal agreement.

This is the joint letter released to the Temple community regarding the sale:

To the Temple community:

As we told you earlier this year, Temple University and Thomas Jefferson University entered into an exclusive agreement to negotiate the potential sale of Fox Chase Cancer Center and Temple's interest in the Health Partners Plan. We are pleased to report that those talks have proven successful. This announcement offers more information on our progress.

All of these efforts are part of our plan to ensure the future of outstanding clinical care for the North Philadelphia community and beyond, and maintaining our unique research and educational mission, while finding a partner that can enhance Fox Chase's future growth. We believe the final agreement with Jefferson will meet those objectives.

In addition, our conversations with Jefferson have prompted some very exciting ideas about how we can join with other health care groups in the city to save St. Christopher's Hospital for Children, a vital component of this community's health care for underserved youth.

We have also started conversations to create opportunities for Jefferson's students to benefit from Temple's expertise and national reputation in areas such as business, engineering and law.

As we finalize the details of the agreement with Jefferson and open new avenues for exploration, we want to thank all of you for your continued commitment to high quality health care, research and education. We deeply value your dedication to Temple University, our neighbors and the Philadelphia region.

Sincerely,

Richard M. Englert

President
Temple University

Larry R. Kaiser, MD, FACS
President/CEO, TUHS
The Lewis Katz Dean, Lewis Katz School of Medicine