July 17, 2019
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Einstein Healthcare Network, Jefferson Health, Philadelphia College of Osteopathic Medicine, and Temple Health are joining forces to negotiate the assets and acquisition of St. Christopher's from its owner, American Academic Health System, the group announced in a press release on Wednesday.
Four major Philadelphia academic health care organizations are coming together in an effort to buy St. Christopher's Hospital for Children.
Einstein Healthcare Network, Jefferson Health, Philadelphia College of Osteopathic Medicine, and Temple Health are joining forces to negotiate the assets and acquisition of St. Christopher's from its owner, American Academic Health System, the group announced in a press release on Wednesday.
American Academic Health System also owns Hahnemann University Hospital in Center City, which outlined its timeline to close on Tuesday.
"In a time of difficult transition for health care in Philadelphia, four health care organizations stepping up to do what's right by St. Christopher's patients is truly emblematic of neighbors helping neighbors, " Dr. Achintya Moulick, chief medical officer and chairman of cardiothoracic surgery at St. Christopher, said in the release. "This will ensure continuity of care and service to the children of the community it serves, especially the underserved population."
The consortium will submit a letter of intent to American Academic Health System in hopes of keeping the doors to St. Christopher's open while the terms of the sale are finalized. All four health care organizations have academic affiliations with the children's hospital and use it as part of their medical training programs for doctors and nurses.
"It will stabilize care for the underserved as together we represent the great majority of admissions to St. Christopher’s," said Dr. Stephen K. Klasko, Jefferson University president and CEO of Jefferson Health. "It will stabilize pediatric residencies for all of us, and medical students for three of the partners. It allows us to work with a children’s hospital partner, as needed."
Philadelphia Academic Health System – a subsidiary of American Academic Health System – filled for voluntary Chapter 11 bankruptcy protection for Hahnemann University Hospital and St. Christopher's on June 30. PAHS announced that it was hoping to restructure the children's hospital to keep it open.
Hahnemann began diverting trauma patients from the emergency room last month before closing the maternity ward on July 10. The hospital announced on Wednesday that they would stop admitting patients into the emergency room.
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