Charleston-based Medical University of South Carolina is seeking to buy four rural hospitals from Community Health Systems for $137 million, according to The Post and Courier.
The State Fiscal Accountability Authority granted MUSC Health permission to proceed with the purchase. The hospitals slated for acquisition are in Lancaster, Chester, Mullins and Florence, all in South Carolina.
"[The price] is not a final sale amount, more of an 'up to’ amount," said Patrick Cawley, MD, CEO of MUSC Health. "We remain on track in our discussions and negotiations and anticipate closing on this sale at the end of February."
Once the sale is finalized, CHS will have exited the South Carolina market entirely, having already sold two hospitals to Spartanburg (S.C.) Regional Healthcare System.