Commonwealth's Regional Hospital Seeks New Buyer Amid Uncertainty
Deal News | Jun 22, 2025 | EIN
Efforts are continuing to find a new buyer for Commonwealth Health's Regional Hospital of Scranton and the Moses Taylor Hospital campus. A number of potential buyers are currently involved in negotiations, including the California-based nonprofit Tenor Health Foundation, Geisinger, and the Wright Center in collaboration with Allied Services. This update was provided by Democratic state Rep. Bridget Kosierowski, who has been at the forefront of efforts to preserve these vital healthcare facilities. The need for a buyer has become increasingly acute since a previous attempted sale to WoodBridge Healthcare fell through due to financing issues. The potential closure of these hospitals poses a significant threat to local healthcare access. Meanwhile, several local foundations and nonprofits have been providing crucial financial support to sustain operations and ensure staff are paid. Key players include the Scranton Area Community Foundation and the AllOne Foundation, among others. Commonwealth Health has affirmed its commitment to maintaining high-quality care amid the transition. The article also highlights the significant impact any potential loss of these facilities could have, particularly concerning emergency, cardiac, and OBGYN services, as well as the local economy.
Sectors
- Healthcare
- Nonprofit Sector
Geography
- United States – The events described in the article are taking place in the United States, specifically in Scranton, Pennsylvania.
Industry
- Healthcare – This article is heavily centered around the healthcare industry, specifically focusing on the operations, acquisition, and management of healthcare facilities.
- Nonprofit Sector – A significant part of the article details involvement by nonprofit organizations like Tenor Health Foundation and various local nonprofits in sustaining and possibly acquiring healthcare facilities.
Financials
- Not specified – The article does not provide specific financial details about the potential acquisition or the financial support from nonprofits.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Commonwealth Health | Target Company | Company | Parent company of the Regional and Moses Taylor hospitals, currently seeking a buyer. |
| Tenor Health Foundation | Potential Buyer | Company | A nonprofit organization that specializes in acquiring, managing, and turning around financially challenged hospitals. |
| Geisinger | Potential Buyer | Company | Healthcare system exploring options to acquire Commonwealth hospitals to increase healthcare access in Scranton. |
| WoodBridge Healthcare | Previous Interested Buyer | Company | A nonprofit that previously attempted to acquire Commonwealth hospitals but failed to secure financing. |
| Wright Center | Potential Buyer (with Allied Services) | Company | Healthcare organization interested in acquiring Commonwealth hospitals for enhanced service provision. |
| Allied Services | Potential Buyer (with Wright Center) | Company | Partnering with Wright Center to explore acquisition of Commonwealth hospitals. |
| Community Health Systems Inc. | Selling Company | Company | The Tennessee-based parent company of Commonwealth Health, responsible for selling the hospitals. |
| Scranton Area Community Foundation | Supporter | Charity | Providing financial support to help sustain operations of the Commonwealth hospitals. |
| AllOne Foundation | Supporter | Charity | Another local nonprofit contributing financial assistance to maintain hospital operations. |