Brentwood, Tenn.-based Quorum Health has inked a definitive agreement to sell 231-bed Trinity Hospital of Augusta (Ga.) to The Richmond County Hospital Authority.
Quorum expects the transaction, which is subject to regulatory approvals, to close by the end of June.
This is the third transaction Quorum has entered into in recent months. The company sold Sandhills Regional Medical Center in Hamlet, N.C., and Barrow Regional Medical Center in Winder, Ga., in the fourth quarter of last year. In addition to the Trinity Hospital deal, Quorum expects to enter into a definitive agreement for the sale of another hospital by the end of the first quarter and has signed letters of intent covering four additional hospitals, Quorum President and CEO Thomas D. Miller said in an earnings statement released Wednesday.
The company is selling off hospitals to restructure its portfolio and improve its financial performance. Quorum ended 2016 with a net loss of $347.7 million, compared to a net income of $1.3 million in the year prior.
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