publication date: Dec. 20, 2019
Fox Chase acquired by Jefferson in definitive agreement with Temple
By Matthew Bin Han Ong
Thomas Jefferson University and Temple University Dec. 18 entered into a binding definitive agreement for Jefferson’s acquisition of Fox Chase Cancer Center and Temple’s Bone Marrow Transplant Program.
Jefferson and Temple have also agreed to transition Temple’s membership interest in Health Partners Plan, a Philadelphia-based managed care program, to Jefferson. The finalization of the transfer of Temple’s membership interest is subject to a number of closing conditions, including the approval of Health Partners Plan. A closing date for the transition has not yet been determined.
The agreement opens the door for leadership of Fox Chase and Jefferson’s Sidney Kimmel Cancer Center to discuss integration of the two NCI-designated cancer centers—an unprecedented event that raises questions ranging from branding to funding:
What will be the name of the integrated entity?
Will PIs from both institutions with similar federal grants be able to retain their funding?
How would the acquisition of Fox Chase alter Jefferson’s catchment and service areas?
Will there be changes in staffing? Are employee benefits going to change?
The financial terms of the agreements have not been disclosed as of this writing.
The definitive agreement comes nearly a year after the institutions announced “an exclusive 90-day window within which to consider and negotiate the acquisition and conduct due diligence by Jefferson of the Fox Chase Cancer Center.” (The Cancer Letter, Jan. 18, 2019).
“Over the next several months, I will be meeting with leaders, faculty, administration, and staff from Fox Chase along with SKCC leadership to learn more about Fox Chase Cancer Center, and to lay the groundwork … Continue reading Fox Chase acquired by Jefferson in definitive agreement with Temple
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