Bucks County-based StoneBridge Healthcare is in the running to potentially negotiate an agreement with a nonprofit interested in acquiring Tower Health, writes John George for the Philadelphia Business Journal.  

The deal between nonprofit WoodBridge Inc. and the Berks County-based health system calls for a cash payment of $550 million, the takeover of all finance leases with $156 million in liabilities, and the commitment to hiring all 11,000 employees of Tower Health.  

Woodbridge also only wants to acquire Reading, Pottstown, and Phoenixville hospitals and is not interested in the acquisition of St. Christopher’s.  

However, Tower Health told the Philadelphia Business Journal that it is unaware of any upcoming bids for the hospitals.  

StoneBridge put forth two offers last year to buy the health systems hospitals and assets for $675 million, which was rejected.  

The firm was founded in 2020 to revitalize struggling medical centers but does not own any hospitals as of yet.  

Tower Health reported an operating loss of $192.9 million in the fiscal year of 2023 amidst rising costs of supplies and labor shortages.  

The health care system has opted to remain independent in 2021.  

Read more about StoneBridge Healthcare’s potential plans to facilitate the acquisition of Tower Health in the Philadelphia Business Journal.  

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