Scranton, Wilkes-Barre Hospitals Finalize Purchase Agreement

Tenor Health Foundation has officially signed a purchase agreement to acquire two key hospitals in Pennsylvania: Regional Hospital of Scranton and Moses Taylor Hospital. This acquisition includes associated clinics and outpatient centers, marking a pivotal moment for healthcare in the region.

Details of the Acquisition

The purchase agreement also incorporates Wilkes-Barre General Hospital. Currently, the transaction is under regulatory review and hinges on Tenor securing its funding. The goal is to finalize the acquisition by the year’s end, contingent upon these financial arrangements.

• Buyer: Tenor Health Foundation
• Sellers: Commonwealth Health
• Hospitals Acquired:
  • Regional Hospital of Scranton
  • Moses Taylor Hospital
  • Wilkes-Barre General Hospital
• Expected Completion: By end of 2023

Statements from Officials

Radha A. Savitala, CEO of Tenor, expressed enthusiasm about the agreement, emphasizing their commitment to preserving essential healthcare resources in vulnerable communities. Local officials praised the acquisition as a step towards ensuring the continuity of care.

U.S. Representative Rob Bresnahan highlighted the importance of the hospitals as crucial providers of health services and economic anchors in Scranton and the surrounding areas. He stated he was “encouraged by this positive step,” which would help maintain quality healthcare access.

Community Support and Concerns

Scranton Mayor Paige Gebhardt Cognetti indicated that a focus remained on keeping both Regional and Moses Taylor Hospitals operational. She acknowledged the urgency brought forth by prior financial challenges, including failed purchase attempts by another nonprofit.

Tenor’s pursuit originally began with a letter of intent signed in August. This renewal of focus came after a previous deal with WoodBridge Healthcare collapsed last year, heightening fears of a healthcare void in the region.

• Previous Buyer: WoodBridge Healthcare
• Date of Failed Deal: November 2022
• Prior Concerns: Potential closure of Scranton hospitals

Community Contributions

Numerous local foundations have contributed millions in temporary funding to support ongoing operations at Regional and Moses Taylor Hospitals. Key contributors include:

• Scranton Area Community Foundation
• AllOne Foundation
• Luzerne Foundation
• Moses Taylor Foundation
• NEPA Health Care Foundation
• The Wright Center
• Allied Services
• Greater Scranton Chamber of Commerce

In conclusion, the agreement between Tenor Health Foundation and Commonwealth Health represents a significant development in maintaining healthcare services in Scranton and Wilkes-Barre, with community leaders and government officials focusing on ensuring accessible care amid financial uncertainties.