Despite Previous Rejections, Bucks County-Based Healthcare Firm Tries to Buy Local Hospitals

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The local healthcare facility is ranking in the top spots in the industry.

A Bucks County hospital turnaround firm is working to secure several healthcare locations in the area, even after previous attempts failed. John George wrote about the business plans in the Philadelphia Business Journal.

Stonebridge Healthcare, a Bucks County-based firm, has reached out to representatives of Tower Health in an attempt to buy some of their remaining hospitals in areas like Phoenixville, Reading, and Pottstown. However, this is not the first time thew firm has attempted to seal the deal with Tower Health.

In previous years, the firm has made offers for the locations, but the health system rebuked them. This time, CEO Joshua Nemzoff is confident in the deal, which has an expiration date of Dec. 9.

“Tower Health continues to make progress on our financial turnaround and our strategy of focusing on our core strengths in Berks, Northern Chester, and Western Montgomery counties, as well as St. Christopher’s Hospital for Children and Drexel University College of Medicine at Tower Health,” Tower Health said in a statement.

Read more about the plans in the Philadelphia Business Journal.

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