Daily News | Crozer’s landlord takes $171M loss on Delaware County hospitals, wants to sell the real estate
MPT on Thursday, however, made it clear that it now wants to sell the Crozer real estate acquired in 2019 as part of a $1.55 billion sale-leaseback deal for 14 hospitals and two psychiatric facilities in three states. Much of the money from that 2019 sale was used to repay debt taken on to pay, among other things, a $457 million dividend to a private equity firm that used to own Prospect.
because a large portion of it’s patients have Medicaid and Medicare insurance, which don’t cover all of a hospital’s costs. That change got tied up in litigation after the Foundation for Delaware County, the legal successor to Crozer-Keystone,, pointing to Prospect’s 2016 agreement not to close any of the Crozer hospitals for 10 years unless the foundation agreed. The Pennsylvania Department of Health order the hospital to close in early November because it was understaffed. It remains closed.
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