Why have some of the press reports said that Drexel was taking control of MCP Hahnemann and not merging ?
Since November 1998, Drexel has been managing MCP Hahnemann under an Operating Agreement. That Agreement gave Drexel the option to take control of MCP Hahnemann University, and that is technically what the Drexel Trustees voted to do. While everyone refers to it as a merger, that is not really what is going to happen, since two separate corporations will remain after July 1. In legal terms, the Philadelphia Health & Education Corporation (“PHEC”), which has been known as MCP Hahnemann University for the past three and one-half years, will become a not-for-profit subsidiary, or affiliate, of Drexel University. While it wasn t really a merger, it is easiest to refer to it that way, and that is how we have been referring to it on this Webpage.
