Keystone Quality Transport Leads 2 Million Dollar Acquisition of Defunct Crozer Health Hospitals in Delaware County

Todd Strine leads an investor group in acquiring two former Crozer Health hospitals, seeking new tenants to restore emergency services to Delaware County.

By: AXL Media

Published: Mar 28, 2026, 8:43 AM EDT

Source: Information for this report was sourced from Bisnow

A Strategic Acquisition Amidst a Regional Healthcare Crisis

The healthcare landscape in Delaware County is facing a pivotal moment as a group of investors, spearheaded by Keystone Quality Transport owner Todd Strine, finalized a 2 million dollar deal to acquire two former Crozer Health hospitals. The transaction includes the 165,000 square foot property in Ridley Park and a 92,000 square foot facility in Springfield. Strine’s primary objective is to re-establish emergency rooms in a county that saw its hospital count plummet from six to two following the bankruptcy of Prospect Medical Holdings last year.

Financial Reset Following Prospect Medical Bankruptcy

The low acquisition price was made possible by the bankruptcy proceedings of the previous parent company, which allowed the new owners to secure the assets "free and clean" of prior debts. Strine characterized the purchase as a rare opportunity to acquire high-value medical infrastructure without the financial "sins of the past" that deterred other institutional buyers. The Springfield transaction closed earlier this month, following the successful acquisition of the Ridley Park site, now rebranded as the Ridley Park Medical Campus.

Institutional Skepticism From Regional Healthcare Leaders

Despite the new owners' optimism, the project faces significant headwinds from established medical providers. During a recent industry conference, Main Line Health CEO Ed Jimenez pointedly noted that none of the new investors have experience running a hospital. Jimenez’s comments reflect a broader skepticism within the sector about whether private investors can successfully operate complex acute care facilities in a state where the Hospital and Healthsystem Association of Pennsylvania predicts 14 more facility closures over the next five years.