Just days after receiving state approval, Tenor Health Foundation and Commonwealth Health closed a deal selling Tenor three Northeast Pennsylvania hospitals, both companies announced Monday morning.<\/p>\n
The deal for Wilkes-Barre General and Scranton\u2019s Moses Taylor and Regional hospitals was completed Sunday, they said. <\/p>\n
According to CHS, the deal was completed for<\/a> $33 million cash plus a $15 million promissory note. <\/p>\n “Additional cash consideration may be received in one or more future periods contingent upon collections of certain patient accounts receivable during the 90-day period following the closing effective date,\u201d a CHS release stated.<\/p>\n \u201cThis allows us to focus squarely on what matters most \u2014 our patients and the communities we serve,\u201d Tenor CEO Radha Savitala said of the sale in a statement released Monday. <\/p>\n \u201cWe are grateful for the strong support of the community, including U.S. Representative Rob Bresnahan and Pennsylvania State Representative Bridget Kosierowski,” Savitala added.<\/p>\n “As a nonprofit organization, Tenor Health Foundation remains committed to keeping high-quality care locally available and ensuring these hospitals remain strong, accessible, and responsive to community needs. We look forward to working collaboratively with all stakeholders to improve access to and the quality of healthcare,\u201d Savitala said.<\/p>\n Process in focus<\/p>\n The deal comes after more than a year of searching for a new buyer after an initial deal between CHS and Woodbridge Healthcare, Inc. fell through in November 2024<\/a>.<\/p>\n Tenor publicly emerged as a second potential buyer in August 2025<\/a> and a deal was signed in October<\/a>.<\/p>\n Tenor Health Foundation<\/a> is a nonprofit “formed to identify, own, manage, and turn around financially challenged hospitals,\u201d according to its website. Tenor’s first acquisition was Sharon Regional Medical Center in Mercer County, Pennsylvania<\/a>. That hospital, previously privately owned, closed last January. It reopened under Tenor’s ownership in March<\/a>.<\/p>\n