Jefferson and Temple end deal to purchase Fox Chase Cancer Center
To the Temple community:
The following is a joint announcement made today by Thomas Jefferson University and Temple University
Richard M. Englert
Jefferson and Temple End Deal to Purchase Fox Chase Cancer Center
Thomas Jefferson University and Temple University announced today that the planned acquisition of Fox Chase Cancer Center by Jefferson will not proceed due to the devastating economic impact of COVID-19.
Both sides agree that the termination of the transaction is amicable, and both acknowledge the reason for the decision not to go forward. “This transaction is the latest casualty of COVID-19,” said Stephen K. Klasko, MD, MBA, President of Thomas Jefferson University and CEO of Jefferson Health. “Because of the tremendous impact that the virus has had on our operations, Jefferson must focus entirely on providing patient care and safety, student education and safety, and the well-being of our dedicated employees.”
Temple President Richard M. Englert concurred: “There is no question that but for the catastrophic economic impact of the virus, both institutions were prepared to move forward to complete this transaction. We fully understand and accept this reality, and we look forward to identifying new ways for our institutions to work together in the future to better serve our community.”
It remains clear that both Temple and Jefferson envision academic and clinical collaborations that positively benefit patients and that the institutions seek to explore other educational opportunities for students at both universities.