Becker's Healthcare September 23, 2024
Nonprofit organization WoodBridge Healthcare intends to use bond financing debt to acquire a three-hospital system in Pennsylvania from Community Health Systems, The Scranton Times-Tribune reported Sept. 23.
The Wilkes-Barre Finance Authority issued a public notice outlining how it would act as the financing system to issue up to $180 million in tax-exempt revenue bonds on behalf of WoodBridge, according to the report.
The nonprofit plans to use the funds to acquire CommonWealth Health, a financially challenged system that includes Regional Hospital of Scranton, Moses Taylor Hospital and Wilkes-Barre General Hospital.
WoodBridge would also use the money...
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