Franklin, Tenn.-based Community Health Systems has completed the sale of Northern Louisiana Medical Center in Ruston to Allegiance Health Management.
The deal closed on July 1, less than four months after the organizations entered into a definitive agreement for the sale of the hospital. With the sale complete, CHS no longer operates any hospitals in Louisiana.
CHS completed the sale of Northern Louisiana Medical Center the same day it sold St. Cloud (Fla.) Regional Medical Center to Orlando (Fla.) Health.
CHS has been selling off hospitals for the past few years to improve its finances and reduce its heavy debt load. CHS divested 30 hospitals in 2017 and is selling another group of hospitals with combined revenue of $2 billion. During its first-quarter earnings call in April, the company said the divestitures that were in the works are expected to close before the fourth quarter and will mark the end of a portfolio rationalization strategy it began nearly three years ago.
CHS' long-term debt totaled $13.5 billion as of March 31.