The alliance formed by Temple Health, Redeemer Health and Philadelphia College of Osteopathic Medicine will officially acquire Chestnut Hill Hospital on January 1, 2023. The hospital will be named Temple Health – Chestnut Hill Hospital (TH-CHH). A celebration will be held at TH-CHH on January 3, 2023 to mark the occasion (see attached and below media advisory for additional details on the event). Temple Health is the majority equity-holder and will manage the 148-bed hospital with Temple University Hospital (TUH) as the managing partner. TH-CHH will remain a freestanding, licensed acute care hospital under a not-for-profit company owned and controlled by the alliance.
“This is a historic moment in Temple Health’s spiraling-up journey. This investment in our growth strengthens our ability to accommodate increasing patient volume, expands access to Temple Health’s array of specialty services throughout the region, and creates capacity for higher-acuity services at TUH-Main Campus,” said Michael A. Young, MHA, FACHE, President & CEO of Temple Health. “This transaction also strengthens our existing relationships with Redeemer Health and Philadelphia College of Osteopathic Medicine—our alliance partners in this acquisition.”
“We look forward to working closely with TH-CHH President & CEO John Cacciamani, MD, MBA, and his leadership team as we move forward,” said Abhinav Rastogi, MBA, MIS, President and CEO of Temple University Hospital and Executive Vice President of Temple Health. “Dr. Cacciamani is a board-certified internist and geriatric sub-specialist who served as acting chief medical officer and chief of clinical operations and informatics at Temple University Hospital before he became Chestnut Hill’s President & CEO nearly 11 years ago. He is also a past president of the Philadelphia County Medical Society.”
“This cooperative relationship brings additional clinical expertise and experience in operational efficiencies to TH-CHH while expanding provider and physician networks, broadening academic support, and increasing patient access to important healthcare services and world-class academic care in the community hospital setting for years to come,” said Cacciamani. “Simply put: We’re better together.”
"We are proud to be part of the team that will continue Chestnut Hill’s commitment to its mission", said Michael B. Laign, President & CEO of Redeemer Health. "We look forward to collaborating and sharing the Alliance’s population health capabilities with the physicians and provider networks associated with Chestnut Hill and the communities served today and in the future. We are also excited about collaborating and sharing our expertise in women's health, and post-acute care including skilled nursing care, transitional care, home care and hospice care.”
“PCOM has strong roots at Chestnut Hill Hospital, including residency programs in Internal Medicine and Surgery,” said Jay S. Feldstein, DO, President and CEO of Philadelphia College of Osteopathic Medicine. “We are eager to enhance the experiential learning environment at Chestnut Hill as we implement and expand our clinical education programs.”
With more than 300 board-certified physicians, TH-CHH’s specialties include minimally invasive laparoscopic and robotic surgery, cardiology, gynecology, oncology, orthopedics, urology, family practice and internal medicine. The acquisition assures continued access to emergency care and strengthens access to important healthcare services upon which the community depends, including higher-acuity specialty care.
The acquisition also represents a significant opportunity for Chestnut Hill employees. Temple Health recognizes the exceptional work that their staff members have been doing, and will give them the tools they need to continue providing the highest-quality care. The resources and stability the alliance brings to TH-CHH will make it a place where staff can thrive personally and professionally, and continue to advance in their careers. Employees will be able to take advantage of Temple Health’s multiple career development and leadership training programs, and will benefit from a nationally recognized, positive work culture in which they will be supported and rewarded. Temple Health also recognizes TH-CHH staff members’ commitment to their communities, and will empower them to continue this work and to ensure TH-CHH remains a strong community anchor for decades to come.