CHS to sell its interest in Carolina Pines Regional Medical Center to Capella Healthcare

As required under an agreement with the Federal Trade Commission, subsidiaries of Franklin, Tenn.-based Community Health Systems have entered into a definitive agreement to sell their ownership interest in 116-bed Carolina Pines Regional Medical Center in Hartsville, S.C., to Capella Healthcare, a 13-hospital for-profit health system based in Franklin, Tenn.

In January, CHS received approval from the FTC to acquire competitor Health Management Associates in Naples, Fla. However, the FTC mandated CHS divest Carolina Pines and 281-bed Riverview Regional Medical Center in Gadsden, Ala., both of which are owned by Health Management.

Although the divesture still requires FTC approval, CHS expects the sale of Carolina Pines to Capella Healthcare to close during the fourth quarter of 2014

More articles on healthcare industry transactions:

Daughters of Charity Health System to sell 6 hospitals to Prime Healthcare Services
St. John's Episcopal Hospital forms partnership with Beacon Health Partners
University of Virginia Medical Center, Culpeper Regional Health finalize merger