Community Health Systems, Inc. announced that it mutually agreed with WoodBridge Healthcare, Inc. to terminate the Asset Purchase Agreement for the sale of Commonwealth Health System in Pennsylvania. The agreement, originally dated July 30, 2024, included Regional Hospital of Scranton, Moses Taylor Hospital, and Wilkes-Barre General Hospital.
The termination was due to WoodBridge’s inability to satisfy the funding requirements outlined in the Purchase Agreement. This inability stemmed from certain developments affecting the expected proceeds available to WoodBridge from the issuance of publicly offered tax-exempt and taxable bonds.
Community Health Systems will now evaluate future options for Commonwealth Health in light of this transaction's termination. This development impacts the company's ongoing strategy to optimize its portfolio through targeted divestitures.
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