Relevant Document:
Press Release
Tower Health announced today that it has entered into a definitive agreement with Canyon Atlantic Partners LLC to purchase, effective Jan. 1, 2022, its Brandywine and Jennersville Hospitals, and that both facilities will remain open as acute care hospitals in Chester County, Pa. Tower Health has suspended its previously
announced plans to close the Jennersville Hospital, according to the press release. The company’s
audited financial statements, released last month, noted that it was considering the sale of its Brandywine Hospital.
Canyon Atlantic Partners is a hospital ownership and management organization “with extensive experience and expertise in healthcare operations, healthcare finance, and the strategic integration of hospitals and healthcare resources,” according to the press release. Under the agreement, Canyon Atlantic Partners will assume all Brandywine and Jennersville Hospital assets and operations as of Jan. 1, 2022, meaning that all clinical and nonclinical staff in good standing at the hospitals will be offered employment by Canyon Atlantic Partners effective on the date of transfer.
Canyon Atlantic Partners will also assume ownership of all inpatient and outpatient services associated with the hospitals.
“This transfer of ownership will ensure continued, convenient access to care for the Jennersville and Brandywine communities. It will also further advance Tower Health’s financial and operational turnaround, positioning us to deliver on our mission well into the future,” said C. Tom Work, chair of Tower Health’s board of directors, in the release.