Tower Health Approved to Buy Bankrupt Philadelphia Hospital

The health care company and Drexel University will co-own the St. Christopher’s Hospital for Children under the $50 million purchase tentatively approved Monday in federal court in Wilmington, Delaware

• Seller St. Christopher’s Healthcare may need to resolve “regulatory issues” before the sale can close in December, the company’s bankruptcy attorney Mark Minuti said in court
  • Federal health care regulators had objected to a proposed sale before Tower Health and Drexel won an auction for the 188-bed pediatric hospital, located in North Philadelphia
  • The U.S. Centers for Medicare & Medicaid Services should be able to work out any remaining issues related ...