X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WARMINSTER, PA-Abington Memorial Hospital has acquired Warminster Hospital from Philadelphia-based Solis Healthcare LLC, a company formed just three months ago to buy Warminster and Roxborough Memorial Hospital from Dallas-based Tenet Healthcare Corp. AMH will convert Warminster to an outpatient facility.

The sale price is undisclosed. Solis paid $25.5 million for both the 153-bed Warminster acute-care hospital at 225 Newtown Rd. and the 137-bed acute-care Roxborough Memorial in Philadelphia this July.

Negotiations for the Warminster sale began immediately after Solis acquired it, according to an AMH statement. “Today’s announcement reflects our long-term vision for enhancing the delivery of health care throughout our service area,” says Richard Jones, president and CEO of AMH, in the statement.

AMH is a nonprofit, 570-bed teaching hospital, and it has the only Level II trauma center in Montgomery County. It operates an outpatient facility in Willow Grove.

Within 30 days, AMH will close Warminster’s inpatient services and emergency department and consolidate them at the AMH campus in Abington. Outpatient surgery, radiology and laboratory services will be maintained at Warminster and new outpatient services will be added. AMH will retain approximately half of Warminster’s 350 employees. Katie Farrell, Warminster’s current CEO, will become executive director of this campus, and a new name will be selected for the facility to align it with AMH.

Solis is a partnership between Jack Donnelly, who is now and was CEO of Roxborough when Solis acquired it, and Robert Souaid, described as the owner of healthcare properties in the Southeast. According to a statement, Solis will turn its attention to expanding services elsewhere in the region and is currently adding new programs at Roxborough.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.