UNDER NEW OWNERSHIP
Sale of 5 area hospitals to Reading Health is complete
Reading Health System has completed its acquisition of five area hospitals.
Hospitals included in the deal are the 232-bed Pottstown Memorial Medical Center in Pottstown, the 151-bed Phoenixville Hospital in Phoenixville, the 169-bed Brandywine Hospital in Caln Township, the 148-bed Chestnut Hill Hospital in Philadelphia and the 63-bed Jennersville Hospital in Penn Township in southern Chester County.
The transaction was finalized on Friday, with an effective date of Oct. 1. Plans for the purchase of the hospitals from Frank- lin, Tenn.-based Community Health Systems Inc. and all associated assets was announced on May 25.
With the acquisition, the new health system will be called Tower Health.
In addition to Reading Hospital in West Reading and the five newly acquired properties, Tower Health also includes: Reading Hospital’s Reading Hospital Rehabilitation at Wyomissing, Reading Hospital School of Health Sciences and Reading HealthPlex, an advanced surgical center; Tower Health Medical Group, a comprehensive network of primary and specialty providers; Tower Health Partners, a clinically integrated network; and Tower Health/UPMC Health Plan, according to a release.
The health system is now comprised of more than 11,000 employees, offering an estimated 2.5 million people with a regional, integrated healthcare provider/payer system.