Reading Health to buy 5 hospitals, change name to Tower

Markets Associated Press

Reading Health System plans to buy five other eastern Pennsylvania hospitals and change the system's name to Tower Health.

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The Reading Eagle says Reading Health announced the plans Tuesday, but didn't immediately release additional details.

The statement says Reading Health and subsidiaries of Tennessee-based Community Health Systems have an asset purchase agreement to buy Pottstown Memorial Medical Center; Brandywine Hospital in Coatesville; Phoenixville Hospital; Jennersville Regional Hospital in West Grove; and Chestnut Hill Hospital in Philadelphia.

The healthy system says the new network will serve about 2.5 million people.