The board of trustees for the Medical University of South Carolina in Charleston voted to acquire four hospitals from Franklin, Tenn.-based Community Health Systems.
"This transaction is the first time MUSC has acquired other hospitals," Charles W. Schulze, chairman of the MUSC board, said in a press release. "The additions will increase the size and scale of the MUSC Health network, and in today's environment, larger, more efficient healthcare systems can deliver greater value to patients and have a positive impact on population health."
The transaction, which is expected to close in the first quarter of 2019, includes the following hospitals: 82-bed Chester Regional Medical Center; 225-bed Springs Memorial Hospital in Lancaster; 396-bed Carolinas Hospital System in Florence; and 124-bed Carolinas Hospital System-Marion in Mullins.
More articles on healthcare industry transactions:
California DOJ approves CHI-Dignity merger, with conditions
CHS to divest 4 hospitals, exit South Carolina
LifePoint merges with RCCH, goes private