Becker's Healthcare November 11, 2024
Franklin, Tenn.-based Community Health Systems has completed or lined up multiple hospital sales this year as part of its divestiture plan, which aims to take in about $1 billion this year after offloading hospitals across various markets.
CHS has sold 29 hospitals since 2020, but its long-term debt still stands at about $11.5 billion, with its debt exposure driving its M&A strategy. Despite recent reductions, CHS still has one of the highest debts among health systems, and remains focused on deleveraging its balance sheet.
“We continue to make progress toward our $1 billion divestiture plan,” CFO Kevin Hammons said during the company’s third-quarter earnings call. “We anticipate the majority of the remaining transactions to complete this plan will likely...
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