West Reading, PA. – Tower Health and Drexel University have completed the acquisition of St. Christopher’s Hospital for Children from St. Christopher’s Healthcare, LLC, a subsidiary of American Academic Health System. The acquisition was finalized on Friday, December 13, 2019 with an effective date of Sunday, December 15, 2019.
The hospital’s acquisition, a partnership of Tower Health and Drexel University, ensures that St. Christopher’s will remain a source of health and healing, medical education and research, and jobs and economic benefit for its Philadelphia neighborhood and the broader region just as it has for the last 144 years. With the acquisition, St. Christopher’s will return to its historic roots as a not-for-profit organization. The hospital will once again be governed by local leaders who have deep roots in the Philadelphia community and who are committed to advancing healthcare locally.
“We are grateful for the continuing dedication and hard work of the physicians and employees at St. Christopher’s,” said Clint Matthews, President and CEO, Tower Health. “We are excited about a bright future for St. Christopher’s as it continues to serve as a center for healthcare, medical education and research, and innovation.”
Tower Health and Drexel University are committed to the success of St. Christopher’s and the role it plays in the Philadelphia region’s healthcare. More than 30,000 children depend on the Hospital for primary and specialty care and 70,000 children are served annually by the Hospital’s emergency department. The Hospital fulfills an important strategic goal for Tower Health, enhancing pediatric specialty services across the system, and expanding upon the long-standing relationship in which specialists from St. Christopher’s have served patients at Reading Hospital. St. Christopher’s will also continue to play a critical part of the educational experience for Drexel’s third and fourth-year medical students and their hospital-based clinical rotations in pediatrics.
“I am delighted that Drexel University College of Medicine students will continue to have the opportunity to train alongside the expert physicians at St. Christopher’s,” said Drexel University President John Fry. “Continuing this important academic affiliation provides our students access to a high-quality training facility.”
Tower Health and Drexel University entered into a $50 million agreement to acquire St. Christopher’s in September 2019. The goal of the acquisition is to ensure that high-quality pediatric services continue without interruption for the community that depends on St. Christopher’s.