Drexel and Tower Health Finalize Acquisition of St. Christopher’s Hospital for Children
December 15, 2019
Tower Health and Drexel University have completed the acquisition of St. Christopher's Hospital for Children from St. Christopher's Healthcare, LLC, a subsidiary of American Academic Health System. The acquisition was finalized on Dec. 13 with an effective date of Dec. 15.
The hospital's acquisition, a partnership of Tower Health and Drexel University, ensures that St. Christopher's will remain a source of health and healing, medical education and research, and jobs and economic benefit for its Philadelphia neighborhood and the broader region just as it has for the last 144 years. With the acquisition, St. Christopher's will return to its historic roots as a not-for-profit organization. The hospital will once again be governed by local leaders who have deep roots in the Philadelphia community and who are committed to advancing healthcare locally.
"We are grateful for the continuing dedication and hard work of the physicians and employees at St. Christopher's," said Clint Matthews, president and CEO, Tower Health. "We are excited about a bright future for St. Christopher's as it continues to serve as a center for healthcare, medical education and research, and innovation."
Tower Health and Drexel are committed to the success of St. Christopher's and the role it plays in the Philadelphia region's healthcare. More than 30,000 children depend on the Hospital for primary and specialty care and 70,000 children are served annually by the Hospital's emergency department. The Hospital fulfills an important strategic goal for Tower Health, enhancing pediatric specialty services across the system, and expanding upon the long-standing relationship in which specialists from St. Christopher's have served patients at Reading Hospital. St. Christopher's will also continue to play a critical part of the educational experience for Drexel's third and fourth-year medical students and their hospital-based clinical rotations in pediatrics.
"I am delighted that Drexel University College of Medicine students will continue to have the opportunity to train alongside the expert physicians at St. Christopher's," said John Fry, Drexel president. "Continuing this important academic affiliation provides our students access to a high-quality training facility."
Tower Health and Drexel University entered into a $50 million agreement to acquire St. Christopher's in September 2019. The goal of the acquisition is to ensure that high-quality pediatric services continue without interruption for the community that depends on St. Christopher's.
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About St. Christopher's Hospital for Children
Located in Philadelphia, St. Christopher's Hospital for Children is a 188-bed facility that provides exceptional care to children from throughout the Greater Philadelphia area. The Hospital is owned and operated as a partnership of Tower Health and Drexel University. St. Christopher's has more than 220 pediatric experts on staff, combining exceptional pediatric care with a wide array of pediatric specialties. It houses one of only three Level I Pediatric Trauma Centers in Pennsylvania and the only dedicated and verified Pediatric Only Burn Center between Manhattan and Baltimore. St. Christopher's is a Magnet® designated hospital and is listed as one of Women's Choice Award Best Children's Hospital in 2019. For more information, visit stchristophershospital.org.
About Tower Health
Tower Health is a strong, regional, integrated healthcare provider/payer system that offers leading-edge, compassionate healthcare and wellness services to a population of 2.5 million people. With more than 14,000 team members, Tower Health consists of Reading Hospital in West Reading; Brandywine Hospital in Coatesville; Chestnut Hill Hospital in Philadelphia; Jennersville Hospital in West Grove; Phoenixville Hospital in Phoenixville; Pottstown Hospital in Pottstown; and St. Christopher's Hospital for Children, a partnership of Tower Health and Drexel University in Philadelphia. It also includes Reading Hospital Rehabilitation at Wyomissing; Reading Hospital School of Health Sciences in West Reading; home healthcare services provided by Tower Health at Home; and a network of 22 urgent care facilities across the Tower Health service area. Tower Health offers a connected network of 2,200 physicians, specialists, and providers across more than 230 convenient locations. For more information, visit towerhealth.org.
About Drexel College of Medicine
The College of Medicine currently educates more than 2,000 future physicians, biomedical scientists and health professionals. It offers some of the most innovative and rigorous academic programs available, incorporating Drexel's expertise in engineering and technology into patient-centered medical training. The College is home to one of the nation's leading centers for spinal cord research; one of the foremost centers for malaria study; and a highly regarded HIV/AIDS program with extensive NIH-funded research in prevention and therapeutic interventions. For more information, visit drexel.edu/medicine.