[The Philadelphia Inquirer] Community Health Systems is selling its last three hospitals in Pennsylvania

Community Health Systems Inc. has agreed to sell its last three hospitals in Pennsylvania to a new nonprofit company led by Bucks County health-care industry veteran Joshua Nemzoff, Community Health Systems said Tuesday after the stock market closed.

Nemzoff’s WoodBridge Healthcare Inc. has agreed to pay $120 million for Wilkes-Barre General Hospital in Wilkes-Barre and two Scranton facilities, Regional Hospital of Scranton and Moses Taylor Hospital. The sale, which requires regulatory approvals, is expected to close by the end of the year.

WoodBridge Healthcare is a not-for-profit, 501(c)(3) organization dedicated to helping hospitals and health systems provide high-quality, patient-centered care and community support. Our goal is to achieve this by acquiring hospitals in urban and rural areas, providing capital and optimizing their operations and services to better position the hospitals and caregivers to serve their patients and their community. The WoodBridge Healthcare leadership team consists of healthcare industry experts with decades of experience who are dedicated to preserving and expanding access to care in the communities we serve.