Judge approves sale of St. Christopher's to Drexel, Tower Health

Pat Loeb
September 23, 2019 - 5:41 pm
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PHILADELPHIA (KYW Newsradio) — A bankruptcy judge in Delaware has approved the sale of St. Christopher's Hospital for Children to Drexel University and Tower Health. 

Drexel and Tower will pay $50 million for the 144-year-old pediatric hospital, under the agreement approved in bankruptcy court.

The chief restructuring officer for Academic Health Systems, the parent company of both St. Christopher's and Hahnemann University Hospital, says he's pleased with the judge's okay.

"The ... acquisition by such highly regarded local institutions delivers financial stability, operational expertise, and long-term confidence" said Allen Wilen, adding the company is "satisfied this transaction ensures St. Christopher's has a healthy future ahead of it."

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Both sides of the transaction have promised a seamless transition. Drexel and Tower say they hope to take over operations by the end of the year.

St. Christopher's has been a vital safety net in North Philadelphia, much like Hahnemann. Doctors and community members had urged that it go to local nonprofit owners.