July 29, 2019
Thomas Jefferson University tentatively has agreed to purchase Temple University's Fox Chase Cancer Center, the universities announced Monday in a joint statement.
The agreement also calls for Jefferson to take on Temple's stake in Health Partners Plans, a Philadelphia-based managed care health insurer.
A final sales price will be established once a formal agreement is finalized in the weeks to come. But the boards of trustees from both institutions have approved the agreement.
Negotiations began in January, when Temple gave Jefferson an exclusive opportunity to explore purchasing Fox Chase, one of the nation's first cancer hospitals.
Now, Jefferson will house both Fox Chase and the Sidney Kimmel Cancer Center under its expanding umbrella, which officials said will create new opportunities for cancer treatment and research. Both cancer centers have designations from the National Cancer Institute.
Sidney Kimmel is one of 70 NCI-Designated Cancer Centers in the United States, recognized for the depth and breadth of their cancer research, as well as their scientific leadership and resources.
Fox Chase is an NCI-Designated Comprehensive Cancer Center, a distinction that recognizes not only its depth and breadth of cancer research, but also substantial transdisciplinary research that bridges basic, clinical and population science.
The agreement also includes a collaboration designed to expand the resources of students at both universities. As part of the collaboration, Temple students will gain access to Jefferson's design, digital health and architecture resources. Jefferson students will benefit from Temple's business, engineering and law resources.
In acquiring Temple's interest in HPP, Jefferson officials said they expect to provide a seamless continuum of care for Medicaid and Medicare Advantage members.