Becker's Healthcare September 26, 2024
WoodBridge Healthcare, a nonprofit organization led by healthcare veteran Joshua Nemzoff, plans to acquire Commonwealth Health, a three-hospital system part of Franklin, Tenn.-based Community Health Systems.
Eight things to know:
1. The proposed $120 million transaction would see CHS exit Pennsylvania. The deal includes a $10 million prepayment for services to be provided subject to an IT transition services agreement and adjustment for the assumption of any capital/finance leases and net working capital.
2. Commonwealth Health hospitals include:
- Regional Hospital of Scranton (186 beds)
- Moses Taylor Hospital in Scranton (122 beds)
- Wilkes-Barre General Hospital (369 beds)
3. WoodBridge Healthcare intends to use bond financing debt to acquire the hospitals. The Wilkes-Barre Finance Authority issued a...
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