Franklin, Tenn.-based Community Health Systems inked a definitive agreement June 26 to sell Oklahoma City-based AllianceHealth Deaconess to a subsidiary of Integris Health.
As part of the deal, the Oklahoma City-based health system subsidiary will also acquire the 291-bed hospital's related businesses, including physician clinic operations and outpatient services.
Officials expect to close the transaction during the third quarter of 2018.
The divestiture is among several planned divestitures CHS outlined during its first quarter 2018 earnings call in May. CHS affiliates will continue to operate seven hospitals across Oklahoma.
While the financial terms of the transaction were not disclosed, Integris Health will reportedly offer all AllianceHealth Deaconess employees in good standing the option to remain in their positions under the new management, NewsOK reports.