Becker's Healthcare November 26, 2024
Franklin, Tenn.-based Community Health Systems’ planned $120 million sale of Commonwealth Health to a newly formed nonprofit organization has collapsed.
WoodBridge Healthcare on July 30 signed a definitive agreement to acquire the three-hospital system from CHS. Commonwealth Health’s hospitals include:
- Regional Hospital of Scranton (186 beds)
- Moses Taylor Hospital in Scranton (122 beds)
- Wilkes-Barre General Hospital (369 beds)
Both parties “mutually agreed” to terminate asset purchase agreement, according to CHS.
The transaction was terminated due to “WoodBridge’s inability to satisfy the funding requirements in the purchase agreement because of certain developments affecting the expected proceeds...
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