CHS hospital, ASC sale falls through: 5 things to know

Becker's Healthcare December 3, 2024
Patsy Newitt

Franklin, Tenn.-based Community Health Systems’ planned sale of Commonwealth Health to WoodBridge Healthcare has been terminated.

Here are five things to know:

1. Newly formed nonprofit organization WoodBridge Healthcare signed a definitive agreement on July 30 to acquire the three-hospital system from CHS for $120 million. The deal would include the three hospitals, along with their associated ASCs, clinics and imaging centers.

2. Both parties “mutually agreed” to terminate asset purchase agreement due to “WoodBridge’s inability to satisfy the funding requirements in the purchase agreement because of certain developments affecting the expected proceeds available to WoodBridge from the issuance of publicly offered tax-exempt and taxable...

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