LVHN looks to sell eight properties in sale/leaseback agreement

Lehigh Valley Health Network is looking to sell eight properties and lease them back in a move the network says will raise needed funds.

A spokesperson for the network said, “The primary goal of this transaction is to assist in raising funds that the health network can reinvest into the communities we serve.”

LVHN said it is working with Centurion Foundation, a charitable 501(c)(3) organization that helps other not-for-profit organizations achieve their purpose by developing, arranging financing for, and leasing facilities.

“The deal will not impact patients or staff at any of the locations involved,” the spokesperson said. “LVHN intends to lease back each location on a long-term basis, ensuring the health network’s presence remains in the participating communities for years to come.”

LVHN said it is not discussing details about the transaction.

“LVHN will have complete responsibility for the use and operation of the facilities. We will continue to determine what services are utilized in each location as well as oversee the operations of each facility,” the spokesperson said.

Last month, LVHN signed a merger agreement with Jefferson Health which is expected to close this summer. Also last month, LVHN teamed up with King of Prussia-based Universal Health Services to build a new behavioral health hospital in Hanover Township.

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