Healthcare DIVE July 31, 2024
The Franklin, Tennessee-based system plans to offload at least $1 billion worth of assets this year, executives said during an earnings call last week.
Dive Brief:
- Community Health Systems plans to sell its three hospitals in Pennsylvania to nonprofit health system WoodBridge Healthcare for $120 million, exiting the state altogether, the system said Tuesday.
- The deal is expected to close in the fourth quarter, pending regulatory reviews.
- During CHS’ second quarter earnings call last week, CFO Kevin Hammons said the company hoped to sell upwards of $1 billion in assets this year to help pay down its debts. This transaction is part of that divestiture plan, CHS said in a statement.
Dive Insight:
While CHS’ larger for-profit...
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