Temple University and Thomas Jefferson University today announced their intention to build a transformative collaboration that includes the sale of Fox Chase Cancer Center, and Temple's interest in Health Partners Plan (HPP). The two universities also recently announced their intent to join a consortium to save St. Christopher's Hospital for Children.
The announcement followed votes by the Temple University Board of Trustees and the Board of Trustees for Thomas Jefferson University for the sale of Fox Chase and HPP to Jefferson, which follows negotiations between the two institutions that began in January. The final sale price for the transaction will be set upon completion of the formal agreement in the weeks to come.
Both institutions stressed that they envision a collaboration that extends far beyond the sale of Fox Chase and HPP, one that seeks a framework for partnership on cancer treatment, caring for the underserved, innovation, and increasing educational opportunities for students at both schools to benefit from programs and services at each institution.
"Temple and Jefferson share a vision to provide the highest quality cancer care and cancer research, while also working to meet the needs of the underserved in Philadelphia, especially children," said Temple President Richard M. Englert. "We are delighted to be a partner in what promises to be a broad-based collaboration with Jefferson to achieve these goals, while also expanding opportunities for students at each university to benefit from the extraordinary expertise available on both campuses."
"Together with our pending merger with the Einstein Health Network, this unique collaboration with one of the state’s premier universities and health systems will present a statewide and national model for coordinated and enhanced access, quality, and clinical experience for patients throughout the community, especially the vulnerable North Broad street and downtown corridors," said Stephen K. Klasko, MD, MBA, President of Thomas Jefferson University and CEO of Jefferson Health. "It is our hope that this unique collaboration will spur other such opportunities throughout the region to encourage institutions to work together in health, education, diversity and outreach."
The collaboration includes the following elements:
- Jefferson will purchase Fox Chase Cancer Center, while maintaining a best of both worlds opportunity for Temple and Jefferson students and patients. The purchase will create new avenues for cancer treatment and research by combining two very powerful national and regional healthcare providers: Fox Chase, an NCI-designated Comprehensive Cancer Center, and the NCI-designated Sidney Kimmel Cancer Center;
- Jefferson will assume Temple’s interest in HPP toward the goal of working with the current owner partners (Einstein, Temple and Jefferson) as well as the community to provide the best and most seamless continuum of care for the expanding Medicaid and Medicare Advantage population across the city and region;
- Temple President Englert and Jefferson President Klasko have committed to work with the deans of their respective colleges to create opportunities for Jefferson’s students to benefit from Temple’s expertise and national reputation in areas such as business, engineering and law. Conversely, this agreement will foster opportunities for Temple students to access Jefferson’s expertise in areas such as design, digital health, and architecture and the built environment.
The parties anticipate that a definitive agreement will be executed in the coming weeks, and they indicated that planning for these initiatives will begin immediately.
"We believe that this collaboration signals a new day for health care in Philadelphia, and specifically for the patients we serve together," said Englert. "Given all of the uncertainties that have made health care headlines in recent months, we believe that the formation of this collaborative framework is a major step forward for patients, employees, and the public. We can’t wait to get started."