Franklin, Tenn.-based Community Health Systems has entered into a definitive agreement to sell three Virginia hospitals to Cincinnati-based Bon Secours Mercy Health.
CHS and Bon Secours entered into an agreement for the sale of the following three Virginia hospitals: 300-bed Southside Regional Medical Center in Petersburg, 105-bed Southampton Memorial Hospital in Franklin and 80-bed Southern Virginia Medical Center in Emporia.
"We are very pleased to have the opportunity to add three strong, dynamic hospitals to our southeast Virginia footprint," John Starcher, Bon Secours Mercy Health president and CEO, said in a news release. "Nothing is more important than the health and well-being of the communities and patients we serve, and we look forward to welcoming Southside Regional Medical Center, Southampton Memorial Hospital and Southern Virginia Regional Medical Center into our compassionate ministry. We have a unique opportunity to find synergies and work together to serve others."
The transaction, which is subject to regulatory approvals, is expected to close by the end of 2019. If the transaction closes, CHS will no longer operate any hospitals in Virginia.
More articles on healthcare industry transactions:
Banner acquires Colorado hospital
RWJBarnabas to buy 2 New Jersey hospitals
Healthcare M&A spending tops $51B in Q3