A recently formed nonprofit hospital company will acquire Commonwealth Health, its hospitals and other health care facilities in a sale scheduled to be completed later this year.
WoodBridge Healthcare Inc., the Bucks County-based buyer, announced Tuesday that it signed an asset purchase agreement to acquire the local health system from subsidiaries of Community Health Systems Inc., Commonwealth’s Tennessee-based parent company.
The transaction includes Commonwealth’s Regional Hospital of Scranton, nearby Moses Taylor Hospital and Wilkes-Barre General Hospital, as well as Commonwealth’s ambulatory surgery centers, emergency departments, imaging centers, laboratories, outpatient rehabilitation operations, sleep care centers, walk-in clinics, wound care centers and physician network, WoodBridge said in a news release.
About WoodBridge
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.