Chariot Equities has purchased the now-closed Crozer-Chester Medical Center in Upland for $10 million and hopes to have an agreement within six months with a health system that could restore hospital and emergency services there.
The newly-created for-profit Chariot Equities completed the purchase on Wednesday. The plan is to open the first phase of the restored hospital within two years, according to a statement from Chariot, writes Harold Brubaker and Sarah Gantz for The Philadelphia Inquirer.
Chariot’s partner at Crozer-Chester is New Jersey-based nursing home operator Allaire Health Services.
“Our belief in Delaware County’s future, and the community’s need for sustainable healthcare access, made this an effort worth committing to well before the finish line,” said Yoel Polack, Chariot’s founder and principal.
Polack previously worked in healthcare real estate in the New York City area.
Main Line Health has been in discussions about reopening emergency services at Crozer-Chester, Springfield Hospital, and Taylor Hospital.
Ed Jimenez, CEO of Main Line Health, said he would “entertain the concept” of restoring emergency services at one of the hospitals in partnership with other health systems, but only if it can be done on a break-even basis.
Read more about possible plans for Crozer-Chester Medical Center in The Philadelphia Inquirer.
