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Thomas Jefferson to negotiate with Temple for acquisition of Fox Chase Cancer Center

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Thomas Jefferson University and Temple University have started negotiations regarding a potential acquisition of Fox Chase Cancer Center.

Jefferson, home of NCI-designated Sidney Kimmel Cancer Center, and Temple — home to Fox Chase — signed an agreement that creates an exclusive 90-day window during which the two institutions can negotiate an acquisition and conduct due diligence.

“This negotiation period will allow us to better understand how partnering could improve lives for patients throughout Philadelphia and far beyond,” Stephen K. Klasko, MD, MBA, president of Thomas Jefferson University and CEO of Jefferson Health, said in a press release. “Just imagine the potential of combining the stellar researchers and clinicians of Fox Chase Cancer Center with the outstanding experts at Sidney Kimmel Cancer Center at Jefferson. This could save — and change — lives forever.”

Jefferson officials will use the 90-day period to determine if acquiring Fox Chase would help better meet the needs of patients and achieve strategic goals, and to evaluate the sale of Temple’s interest in Health Partners Plans, a managed care health insurer.

“Temple and Jefferson share a home city, a mission and a commitment to caring for [patients with cancer] throughout the region, and Jefferson is an outstanding potential partner,” Temple President Richard M. Englert said in the release. “We are both dedicated to quality health care, safety, service, medical education, research and discovery, and we support the idea of two great Philadelphia institutions coming together to do what’s right for the patients we proudly serve.”

If Jefferson and Temple officials reach an acquisition agreement, it would require state and federal regulatory approval.

Jefferson Health-Thomas Jefferson University Hospitals ranks as the 26th best adult cancer hospital in the country in U.S. News & World Report’s 2018-2019 rankings, with a score of 68.4 out of a possible 100 points. Fox Chase Cancer Center, which received a score of 59.9 out of 100, is identified in the rankings as “high-performing in adult cancer.”