PHILADELPHIA - Hahnemann University Hospital plans to transfer residency and fellowship programs at Hahnemann/Drexel to Tower Health, the hopsital announced Wednesday.
Tower Health will continue to train residents and fellows in these programs, while giving those physicians the right to be placed in one of Tower Health’s six hospitals, according to Hahnemann officials.
“We have been working hard with Drexel to find a solution for the residency and fellowship programs for everyone involved,” said Joel Freedman, president of Hahnemann. “We are pleased to have reached an agreement with Tower Health which provides the best opportunity for the residents and fellows to continue training with the Drexel physicians while keeping the training cohort intact and enabling residents and fellows to remain in the Greater Philadelphia area.”
Tower Health will also seek to hire the faculty who are currently training the residents and fellows to ensure continuity of the Hahnemann and Drexel training programs.
“This is a natural next step in the growing relationship between Tower Health and Drexel University, which includes our recently announced 20-year academic affiliation and the initiative to explore combining the Tower Health Medical Group and Drexel University Physicians practices,” said John Fry, president of Drexel University.
The hospital's letter of intent is pending approval from the U.S. Bankruptcy Court. The proposed transfer is scheduled to be completed by Aug. 1, unless a later date is required to obtain the necessary governmental and regulatory approvals.
Hahnemann announced its forthcoming closure because of what the company called "continuing, unsustainable financial losses."
Freedman said in a statement the healthy system "relentlessly pursued numerous strategic options to keep Hahnemann in operation" and they are "saddened our efforts have not been successful."
The Associated Press contributed to this report.