Franklin, Tenn.-based Community Health Systems announced a definitive agreement July 30 to sell its three Pennsylvania hospitals to affiliates of WoodBridge Healthcare.
CHS expects the deal to close in the fourth quarter. Another deal the system has in the works — selling Cleveland (Tenn.) to Hamilton Health Care System in Dalton, Ga. — is expected to close in the third quarter, CEO Tim Hingtgen said on the system's July 25 earning call
Mr. Hingtgen said in February that CHS is evaluating interest for divestitures that could yield more than $1 billion in additional proceeds.
Since 2020, CHS has announced or completed the sale of 32 hospitals:
2024
1. Regional Hospital of Scranton (Pa.)
2. Moses Taylor Hospital (Scranton, Pa.)
3. Wilkes-Barre (Pa.) General Hospital
4. Tennova Healthcare – Cleveland (Tenn.)
2023
1. Bravera Health Brooksville (Fla.)
2. Bravera Health Seven Rivers (Crystal River, Fla.)
3. Bravera Health Spring Hill (Fla.)
4. South Arkansas Regional Hospital (El Dorado)
5. Plateau Medical Center (Oak Hill, W.Va.)
6. Greenbrier Valley Medical Center (Ronceverte, W.Va.)
2022
1. AllianceHealth Seminole (Okla.)
2021
1. Lea Regional Medical Center (Hobbs, N.M.)
2. Tennova Healthcare-Tullahoma (Tenn.)
3. Tennova Healthcare-Shelbyville (Tenn.)
4. Northwest Mississippi Medical Center (Clarksdale)
5. AllianceHealth Midwest (Midwest City, Okla.)
In July 2021, CHS sold its 38 percent interest in Macon (Ga.) Healthcare, a two-hospital joint venture among subsidiaries of Nashville, Tenn.-based HCA Healthcare.
2020
1. Berwick (Pa.) Hospital Center
2. Brownwood (Texas) Regional Medical Center
3. Abilene (Texas) Regional Medical Center
4. San Angelo (Texas) Community Medical Center
5. Bayfront Health St. Petersburg (Fla.)
6. Hill Regional Hospital (Hillsboro, Texas)
7. St. Cloud (Fla.) Regional Medical Center
8. Northern Louisiana Medical Center (Ruston)
9. Shands Live Oak (Fla.) Regional Medical Center
10. Shands Starke (Fla.) Regional Medical Center
11. Southside Regional Medical Center (Petersburg, Va.)
12. Southampton Memorial Hospital (Franklin, Va.)
13. Southern Virginia Regional Medical Center (Emporia)
In November 2020, CHS sold its 50 percent ownership interest in Merit Health Biloxi (Miss.).