Franklin, Tenn.-based Community Health Systems has completed the sale of 92-bed Bluefield (W.Va.) Regional Medical Center to Princeton (W.Va.) Community Hospital.
The transaction closed Oct. 1, roughly three months after CHS and Princeton Community Hospital entered into a definitive agreement. With the sale complete, CHS now owns two hospitals in West Virginia.
CHS has been selling off hospitals in recent years to improve its financial position and reduce its debt load. During 2018, the company completed 11 hospital divestitures and permanently closed three hospitals. CHS has completed the divestiture of 12 hospitals this year.
More articles on healthcare industry transactions:
Hospital M&A update: 5 latest deals
Proposed merger would create 33-hospital network in Louisiana
Mon Health helps West Virginia community hospital stay afloat