The CHS release said the deal is pending review and approval of the Pennsylvania attorney general’s office, and terms have not yet been disclosed.
A Moses Taylor news release said the proceeds of the sale will be used to fund employee pensions, eliminate liabilities and debt and establish a nonprofit foundation to improve healthcare in the Scranton community.
Active employees are expected to be hired into their same positions when the transaction closes, and CHS plans to invest $60 million over five years for facility and technology upgrades within the health system, the release said.
This deal comes within hours of Danville, Pa.-based Geisinger Health Systems announcing its pending merger with Scranton, Pa.-based Community Medical Center.
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