May 24, 2002
Drexel Takes Over Medical School
Drexel University has assumed ownership of MCP Hahnemann University School of Medicine and its affiliated nursing and public-health schools. Drexel had been managing MCP Hahnemann, the nation's largest private medical school, since 1998, when its parent, the Allegheny Health System, declared bankruptcy.
Tenet Healthcare Corporation bought the bankrupt system, which included eight area hospitals, and paid Drexel $50-million plus management expenses to oversee the medical school. Tenet
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