After months of court hearings and negotiations with various stakeholders, Upland, Pa.-based Crozer Health will shut down and lay off more than 2,600 employees, according to a closure notice from parent company Prospect Medical Holdings. The decision follows failed efforts to find a buyer for key Crozer facilities and comes just three days after Crozer CEO Tony Esposito stepped down. However, on April 18, the company learned that no prospective buyers — including the University of Pennsylvania Health System, which had offered $5 million to extend negotiations — would proceed. “As of April 18, 2025, the receivership of Crozer Health has ended,” FTI said in a statement shared with Becker’s. Unfortunately, the damage inflicted by Leonard Green & Partners … was too much to overcome,” the attorney general’s office said in a statement.