Franklin, Tenn.-based Community Health Systems inked a definitive agreement to sell Ocala, Fla.-based Munroe Regional Medical Center and its assets, the 126-hospital system announced April 18.
Orlando-based Florida Hospital, a subsidiary of Altamonte Springs, Fla.-based Adventist Health System, will assume the lease and operations of the 421-bed hospital, pending approval by the Marion County Hospital District.
Officials expect to close the deal during the third quarter of 2018, subject to customary regulatory approval.
The transaction is part of CHS' plan to divest additional hospitals, which was discussed during the health system's fourth quarter 2017 earnings call.