The PA attorney general's office and the Montgomery County, PA, Orphan's Court, which has jurisdiction over not-for-profit institutions, must approve the transaction. Terms of the sale, which is expected to reach completion this summer, are undisclosed.
According to published reports, CHS paid $40 million for 176-bed Brandywine Hospital, located in Coatesville, PA, in 2001. The Pottstown facility will join four others, in addition to Brandywine, that CHS owns in PA. They are Berwick Hospital Center in Berwick, Jennersville Regional Hospital in West Grove, Easton Hospital in Easton, and Lock Haven Hospital in Lock Haven.
Located at 1600 East High St., Pottstown Memorial is about 50 miles west of Philadelphia and 25 miles east of Reading, PA. The acquisition "will establish a strategic position for (CHS) on the high-growth Rte. 422 corridor," said Wayne T. Smith, chairman, president and CEO of CHS.
Pottstown's family care centers are Coventry Family Care at the Coventry Mall, Coventry Pediatrics at 1610 Medical Dr., and Berks Family Care on Old Swede Rd. in nearby Douglasville.
Under CHS, the Pottstown facility will become a for-profit institution. In all, CHS owns, leases or operates 70 hospitals in 22 states.
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