Tenor Health Foundation to buy three Commonwealth Health hospitals in Scranton
Tenor Health Foundation has signed an agreement to buy three local hospitals under Commonwealth Health — the Regional Hospital of Scranton, Moses Taylor Hospital, and Wilkes-Barre General Hospital — along with their clinics.
Commonwealth Health released a statement, which reads, the acquisition, subject to regulatory review and contingent on finalising funding, is likely to close by year’s end.
Scranton Mayor Paige Cognetti expressed optimism, stating the goal has always been to keep the hospitals open and staff employed following months of conversations with Tenor, Gov.
“Shapiro’s administration, state representatives, and community leaders, I’m optimistic this sale means we’ll continue to have quality healthcare right here in Scranton,” she added.
Cognetti pledged the city’s support as Tenor looks for the mandatory licenses and financing to enhance services.
Based in California, Tenor Health Foundation specializes in detecting financially struggling hospitals.
CEO Radha A. Savitala stated that the acquisition reflects Tenor’s commitment to preserving essential healthcare resources in communities at a significantly higher risk.
“We are grateful to the community and hospital staff who continue providing critical care,” Savitala stated. “We look forward to engaging with all stakeholders to ensure a smooth acquisition and transition.”
This significant move aims to protect the region’s healthcare infrastructure and maintain Scranton’s role as a major medical hub for northeastern Pennsylvania.
