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Community Health Systems, Inc. (NYSE:CYH) announced today that certain subsidiaries of the Company have entered into a definitive agreement to sell three Pennsylvania hospitals – 186-bed Regional Hospital of Scranton and 122-bed Moses Taylor Hospital in Scranton, 369-bed Wilkes-Barre General Hospital in Wilkes-Barre, and certain related businesses to affiliates of WoodBridge Healthcare, Inc. for $120 million, inclusive of a $10 million prepayment for services to be provided pursuant to an information technology transition services agreement and subject to adjustment for the assumption of any capital/finance leases and net working capital.
The transaction is expected to close in the fourth quarter of this year, subject to customary regulatory approvals and closing conditions.
Posted In: CYH
