Franklin, Tenn.-based Community Health Systems has signed a definitive agreement to sell two hospitals to Winston-Salem, N.C.-based Novant Health.
Subsidiaries of CHS will sell Lake Norman Regional Medical Center in Mooresville, N.C., and Davis Regional Medical Center in Statesville, N.C., and their associated assets to Novant Health for cash consideration of approximately $320 million, according to a Feb. 28 news release shared with Becker's.
The sale comes as Davis Regional Medical Center is transitioning from a general acute care hospital to an inpatient behavioral health hospital.
The transaction is expected to close later this year, according to CHS' news release.