Tenor Health Foundation takes ownership of Regional Hospital of Scranton, Wilkes-Barre General and Moses Taylor Hospital.<\/p>\n
SCRANTON, Pa. \u2014 Tenor Health Foundation’s acquisition of Commonwealth Health closed Sunday and formally put two financially troubled Scranton<\/a> hospitals and a Wilkes-Barre<\/a> hospital under new ownership.<\/p>\n The deal, announced Monday by Commonwealth and its former corporate parent, Community Health Systems, means that the California-based nonprofit now owns the 186-bed Regional Hospital of Scranton, the 122-bed Moses Taylor Hospital, the 369-bed Wilkes-Barre General Hospital and related clinics, surgical centers and outpatient services.<\/p>\n “This allows us to focus squarely on what matters most \u2014 our patients and the communities we serve,” Tenor CEO Radha Savitala said in a statement.<\/p>\n Tenor Health purchased the Commonwealth assets for $33 million cash plus a $15 million promissory note, said Community Health Systems. In November, Luzerne County Council authorized Northeastern Pennsylvania Hospital and Education Authority to issue $47,000,000 in tax-exempt revenue bonds and $25,000,000 in taxable revenue bonds to help Tenor raise the money for Wilkes-Barre General. The Scranton hospitals did not have a purchase price because they had been losing money, officials said at the time.<\/p>\n Hospital officials stressed the closing will not interrupt patient care. The hospitals, clinics and services will stay open and operational.<\/p>\n “Our patients should feel confident that nothing about their care changes,” Dr. Patrick Conaboy, vice president of clinical services and quality for the three hospitals said. “We are here, we are open and we remain fully focused on providing safe, compassionate, high-quality care to the communities we serve.”<\/p>\n Tenor and Community Health reached a definitive agreement<\/a> in October and the state Department of Health gave its blessing<\/a> last week.<\/p>\n