The Pennsylvania Office of Attorney General and Prospect Medical Holdings struck a deal to have FTI Consulting temporarily run Crozer Health.
According to the latest filing with a federal bankruptcy judge, the Washington D.C.-based firm will receive an unspecified amount of funding from the state to help keep the hospitals open.
Prospect Medical Holdings announced Friday intentions to sell Crozer Health to a “not-for-profit consortium of healthcare operators but later said the deal had run into a snag. Members of the consortium were not identified.
The receivership buys parties more time to negotiate the framework of such a deal.
Earlier, northern Delaware-based ChristianaCare and Crozer announced a merger. However, ChristianaCare exited the deal over issues that included a changing healthcare landscape and the conversion of Crozer into a nonprofit.
Crozer's flagship hospital in Upland, PA is the region's severe burn center.
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Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
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Share with Us. We'd love to hear eyewitness accounts, the history behind an article.