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.
The deal for Wilkes-Barre General and Scranton’s Moses Taylor and Regional hospitals was completed Sunday, they said.
According to CHS, the deal was completed for $33 million cash plus a $15 million promissory note.
"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,” a CHS release stated.
“This allows us to focus squarely on what matters most — our patients and the communities we serve,” Tenor CEO Radha Savitala said of the sale in a statement released Monday.
“We are grateful for the strong support of the community, including U.S. Representative Rob Bresnahan and Pennsylvania State Representative Bridget Kosierowski," Savitala added.
"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,” Savitala said.
Process in focus
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.
Tenor publicly emerged as a second potential buyer in August 2025 and a deal was signed in October.
Tenor Health Foundation is a nonprofit "formed to identify, own, manage, and turn around financially challenged hospitals,” according to its website. Tenor's first acquisition was Sharon Regional Medical Center in Mercer County, Pennsylvania. That hospital, previously privately owned, closed last January. It reopened under Tenor's ownership in March.
Tenor submitted its change-of-ownership application for the NEPA hospitals to state officials in November. The state’s Department of Health approved the application last Wednesday.
Savitala is focused on what’s next.
“A sigh of relief, but I think that'll be short only because the real hard work begins now post acquisition and working with the teams and boots on the ground, so we've got a lot of hard but important work to do, and really, this is, this is what keeps us going. So we are thrilled, but we also have a long road ahead of us,” Savitala said Friday as the sale was nearing closure.
Check back for updates.
