Kaufman Hall Advises Crozer-Keystone Health System on Sale to Prospect Medical Holdings, Inc.

SKOKIE, Ill. – January 8, 2016 – Crozer-Keystone Health System (CKHS) has been acquired by Prospect Medical Holdings (Prospect). CKHS and Prospect have completed required regulatory approvals.

Kaufman Hall has served as strategic and financial advisor to CKHS in evaluating the potential partnership with Prospect.

How can hospitals determine the synergies to be gained from partnering with another organization? Listen to this Kaufman Hall podcast for insight.

CKHS, based in Springfield, Pa., is the largest employer and health care provider in Delaware County, located southwest of Philadelphia. The health system provides a full spectrum of wellness, acute care, rehabilitation and restorative care to its community.

The CKHS Board of Directors engaged Kaufman Hall to evaluate whether partnering with another health system might enable CKHS to fulfill its strategic vision. After careful consideration, the Board determined that an exploration of partnership opportunities was in the best interest of CKHS.

System leadership recognized the need to pursue a coordinated partnership process and retained Kaufman Hall to engage with a diverse group of potential partners, which included for-profit and not-for-profit organizations and local systems as well as those in neighboring states. The Kaufman Hall team led a thorough review through which Prospect was deemed the partner best positioned to meet CKHS’s specific goals and objectives.

“This is an exciting development for Crozer-Keystone Health System,” says Joan K. Richards, Crozer-Keystone president and chief executive officer. “In Prospect, we have selected a partner that shares our mission to improve the health of the communities we serve, and has the financial resources to make sure that the care we provide continues to rank among the best in our region.”

Prospect Medical Holdings is a healthcare services company that owns and operates 13 inpatient hospitals as well as 40 clinics and outpatient centers. Prospect hospitals are located in diverse, high-density population areas, and through a Coordinated-Regional-Care model, they work closely with a network of more than 9,000 primary care physicians and specialists to meet the needs of the communities they serve.

To learn more about how Kaufman Hall is assisting healthcare organizations with partnership decisions and transactions, contact Andy Majka or Courtney Midanek at 847.441.8780 or amajka@kaufmanhall.com and cmidanek@kaufmanhall.com.