The sale of the shuttered Springfield Hospital to local investors has been completed
Springfield is the last of the four former Crozer Health hospitals to be sold as part of the Prospect Medical Holdings bankruptcy.
Local investors completed their purchase of the former Springfield Hospital Tuesday for $1 million, according to Todd Strine, the leader of the buyer group, called KQT Aikens Partners 2.
Springfield is the last of four former Crozer Health hospitals to be sold during the bankruptcy liquidation of Prospect Medical Holdings Inc., a California for-profit that acquired Crozer in 2016.
Strine’s group also acquired Crozer’s Taylor Hospital in Ridley Park for $1 million, and hopes to restore medical services to both facilities.
“Investing in Springfield Hospital is the next step in our commitment to Delco’s health and well being. We need to heal the wounds that have been inflicted by the closure of four of our county’s six hospitals,” said Strine, who is the majority owner of medical transport company Keystone Quality Transport.
As was the case in Ridley Park, local tax authorities, including Springfield Township and the Springfield School District, have agreed to assess the Springfield property at the sale price for a limited amount of time, Strine said.
“We are happy to see the sale has been completed and look forward to working with the Strine family through this development process. We look forward to good things for this property,” said Jeff Rudolph, president of the Springfield Board of Commissioners.
Springfield School District superintendent Anthony Barber did not immediately respond to an emailed request for comment.
Strine has been working toward an acquisition of the Springfield Hospital property since last summer. However, a partnership of Restorative Health Foundation and Syan Investments LLC won an October auction for the hospital property with a $3 million bid.
In January, Prospect said in a court filing that it had given up on trying to sell the Springfield site, which stopped operating as an acute-care hospital in February 2022, to that partnership. Strine’s group was the backup bidder.
The property has a deed restriction that requires 24-7 emergency services at the site. That remains in place, but could be revisited in the future, Strine said.