From the Philadelphia Business Journal:
Jefferson Health System and Frankford Hospitals finalized their previously announced realignment agreement Wednesday.
While Frankford — which operates hospitals in the Torresdale and Frankford sections of Philadelphia and a third in Falls, Bucks County — is not longer part of the Jefferson group, it will remain closely affiliated with the health-care system.
Frankford is pursuing plans to build a new Bucks County hospital in Lower Makefield to replace its existing medical center across from the Oxford Valley Mall.
The realignment agreement required Frankford to pay the Jefferson Health $67 million for its portion of the system’s overall bond debt.
Jefferson Health is now comprised of six acute-care and two rehab hospitals operated by Thomas Jefferson University Hospitals, Main Line Health, and Magee Rehabilitation Hospital.
Frankford’s departure followed a similar move by the Philadelphia-based Albert Einstein Healthcare Network, which left the Jefferson system in September.
