Prospect Medical to Sell Pennsylvania Hospitals for $13 Million

Prospect Medical Holdings Inc. reached deals to sell two shuttered Pennsylvania hospitals for a combined $13 million, allowing the private health-care provider to avoid abandoning the properties in bankruptcy.

Chariot Allaire Partners LLC submitted a winning bid of $10 million for Prospect’s Crozer-Chester Medical Center, while Restorative Health Foundation and Syan Investments agreed to pay $3 million for Springfield Hospital, according to filings Monday in the US Bankruptcy Court for the Northern District of Texas.

The auctions were held following an Oct. 10 hearing in which Judge Stacey G. Jernigan said Prospect could abandon or sell the medical facilities, which ...