# Tower Health

Tower Health is an Endowment / Foundation based in West Reading, United States.

## Overview

- **Organization type:** Endowment / Foundation
- **Headquarters:** West Reading, United States
- **Region:** North America
- **Address:** West Reading, PA, United States
- **Founded:** 2017
- **Assets under management:** Undisclosed
- **Website:** towerhealth.org
- **LinkedIn:** https://www.linkedin.com/company/towerhealth

## Regulatory record

- **Reports private funds:** No

## About

Tower Health was established in 2017 as an integrated healthcare system serving Berks, Chester, Montgomery, and Philadelphia counties in Pennsylvania. Jim Boscov, CEO of Boscov's Department Stores and son of Albert Boscov who helped endow the Reading Hospital, serves as Vice Chair of the board. The system runs on a foundation-based asset-owner model, with the Reading Hospital Foundation functioning as the philanthropic arm connected to the system's flagship institution. Tower Health has been actively restructuring its physical footprint. It sold Chestnut Hill Hospital to Temple University Health System in 2023 and sold Jennersville Hospital to ChristianaCare in 2022, trimming down from six hospitals to four while joining the AllSpire Health Partners consortium across the Mid-Atlantic. Tower Health employs roughly 10,000 team members and maintains a real-asset-heavy balance sheet that includes Reading Hospital, Phoenixville Hospital, Pottstown Hospital, St. Christopher's Hospital for Children, and the Reading Hospital Rehabilitation at Wyomissing, alongside its medical office building portfolio. In 2023, Penn Medicine's long-standing strategic alliance with Tower Health dissolved, marking another structural reorientation as the system narrowed its geographic focus. Its governance architecture — a board chaired by a regional banking executive with a retail magnate as Vice Chair — embeds the system deeply in the commercial and charitable fabric of Berks County. The joint venture with Drexel University for St. Christopher's Hospital introduces an academic medical partnership layer uncommon for systems of this size.

## Sectors

- Healthcare Services

## People

- Meg Mueller — Chair, Board of Directors
- Jim Boscov — Vice Chair, Board of Directors

## Questions

### How is Tower Health structured financially?

Tower Health operates as a nonprofit integrated healthcare system, functioning like an endowment with significant real assets. It owns four acute-care hospitals, a rehabilitation facility, and a portfolio of 23 medical office buildings. Philanthropy flows through the affiliated Reading Hospital Foundation. The system does not publicly report a consolidated AUM or endowment value.

### What is the relationship between Tower Health and the Reading Hospital Foundation?

The Reading Hospital Foundation supports Tower Health's flagship institution, Reading Hospital, which traces its roots to 1867. The foundation's historic ties include major philanthropy from the Boscov family, whose department store empire was based in Reading. Jim Boscov currently serves as Vice Chair of the Tower Health board, linking the foundation's legacy to current system governance.

### Why has Tower Health been selling hospitals?

Tower Health sold Jennersville Hospital to ChristianaCare in 2022 and Chestnut Hill Hospital to Temple University Health System in 2023. These divestitures reduced the system from six acute-care hospitals to four. The sales followed financial pressures exacerbated by the pandemic and the unwinding of a prior strategic alliance with Penn Medicine in 2023.

### Does Tower Health have any investment staff?

Tower Health functions as an operating healthcare system rather than an investment manager. There are no reported named investment professionals on its public leadership team. Strategic capital decisions — including hospital sales, joint ventures, and real estate holdings — appear to be made by the executive team and board of directors.

### What is AllSpire Health Partners and how does Tower Health use it?

AllSpire Health Partners is a consortium of health systems in the Mid-Atlantic region. Tower Health is a member, joining to pursue shared services, group purchasing, and regional collaboration. The network allows smaller systems like Tower Health to aggregate negotiating power without giving up local governance.

## Related profiles

- [Tower Group Companies](https://altss.com/profile/tower-group-companies)
- [Tower International Pension Plan](https://altss.com/profile/tower-international-pension-plan)

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Last updated: 2026-06-03T20:00:00.000Z

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