Bankrupt Philadelphia Hospital Floats Resident Program Sale

Law360 (July 10, 2019, 3:27 PM EDT) -- Bankrupt hospital operator Center City Healthcare proposed a Chapter 11 sale of the 500-doctor residency programs at Hahnemann University Hospital late Tuesday, saying it had received a $7.5 million stalking horse bid from regional hospital owner Tower Health to take over the training systems from Hahnemann, which is slated to close this fall.

In its filings related to the sale filed in Delaware bankruptcy court, Center City Healthcare asked to have the timeline for the sale and auction accelerated to eliminate the uncertainty facing the 583 doctors participating in the residency programs in partnership with the Drexel University College of Medicine,...

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