Crozer Health gets new CEO following omicron surge and staffing shortages

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Prospect Medical Holdings Inc. has named a new chief executive for Crozer Health, which operates four Delaware County hospitals that were particularly hard hit by staffing shortages and patient crowds during the omicron surge.

A Prospect executive named Kevin Spiegel immediately replaced Peter Adamo, who has been Crozer’s CEO for two years, according to an internal human resources memo. Adamo’s last day in Crozer is February 11. An announcement of the change was circulated on Tuesday.

Prospect, a for-profit company based in Los Angeles, put Crozer and other hospitals it owns on the East Coast up for sale in October. Prospect has owned Crozer since 2016, acquiring what was then a nonprofit in a deal valued at $300 million, mostly for assumed liabilities.

It’s unclear whether the leadership change has implications for the potential sale of Crozer, which includes Crozer-Chester Medical Center in Upland, Delaware County Memorial Hospital in Drexel Hill, Springfield Hospital in Springfield and Taylor Hospital in Ridley. Park.

Details of Crozer’s financial performance are not public, but there are signs that Crozer has been struggling financially. This is not surprising, given that even financially strong systems like Main Line Health are losing money in part due to high personnel costs. Sources said Crozer has around $700 million in annual revenue.

» READ MORE: Main Line Health suspends elective surgeries and procedures amid rising COVID-19 cases

Last month, Crozer closed the maternity ward at Delaware County Memorial Hospital, consolidating those services in Crozer-Chester. Crozer’s website says the company “has temporarily suspended all hospital services at Springfield Hospital.”

Spiegel, the executive taking the helm of Crozer during an extraordinarily challenging time for healthcare systems, joined Prospect as senior vice president of strategy and revenue development in March 2020. Prior to that, Spiegel served as CEO of ‘Erlanger Health System, a seven-hospital system in Chattanooga, Tenn, for six years.

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