Crozer Health CEO Tony Esposito will step down Friday after more than five years at the helm.
A Crozer spokesperson said Tuesday that Greg Williams, president of parent company Prospect Medical Holdings’ East Coast operations, will be interim CEO. The spokesperson declined to give a reason for Esposito's departure and did not say whether Crozer would look to fill the role permanently.
Related: Prospect Medical Holdings' bankruptcy has its hospitals in limbo
Prospect, which filed for Chapter 11 bankruptcy protection in January, has for years explored new ownership for the struggling Crozer with no luck. Wilmington, Delaware-based ChristianaCare signed a letter of intent to buy Delaware County, Pennsylvania-based Crozer in early 2022, but the deal fell through later that year. Real estate company CHA Partners agreed to buy Crozer in 2024, but that deal also fell through.
In February, Prospect was given court approval to hand Crozer operations over to a state-backed receiver as part of a last-minute deal to avoid closures. Operations were transferred to FTI Consulting.
As of Thursday, funding had been secured to keep Crozer facilities open for at least another week, according to the Pennsylvania attorney general's office.
"Work continues to finalize an asset purchase agreement that will put the Crozer system under permanent new ownership," a spokesperson said last week. "Additionally, action is to be taken immediately to expedite FTI’s plan for the long-term sustainability of the system."
