Community Health Systems announced an agreement late Friday to sell three Pennsylvania hospitals to Tenor Health Foundation.\u00a0<\/p>\n
The Franklin-based health care company\u00a0said it has entered into a definitive agreement to sell Regional Hospital of Scranton, Moses Taylor Hospital\u00a0and Wilkes-Barre General Hospital, along with other related businesses.\u00a0<\/p>\n
Terms of the deal were not disclosed.<\/p>\n
Once the funding is secured,\u00a0the transaction is expected to close shortly thereafter within the fourth quarter of this year, according to a release.\u00a0<\/p>\n
The hospitals included in the transaction are among the potential divestitures discussed Friday morning on the company\u2019s third-quarter earnings call.\u00a0<\/p>\n
During the call, Kevin Hammons, CHS president and interim CEO, said the company is having both early and late-stage discussions about other potential divestures.\u00a0<\/p>\n
\u201cWe are still pursuing some divestures,\u201d Hammons said on the call.<\/p>\n
\u201cWe are in some early conversations…too early at this point, we don\u2019t know how far those will go. But certainly we will continue to get some inbound interest. We are in some advanced discussions on a couple of deals, which we think could be announced even later this year.\u201d\u00a0<\/p>\n
Since a previously announced sale to\u00a0WoodBridge Healthcare Inc.\u00a0was terminated in\u00a0November 2024, CHS representatives said they have worked with state officials in Pennsylvania\u00a0to identify another operator for the\u00a0Scranton\u00a0operations. Outreach was made to regional and national organizations, according to the release.\u00a0<\/p>\n