With 12.4 million shares of CHS, BlackRock is the company’s second-largest shareholder. Chinese billionaire Tianqiao Chen and his group of companies have a nearly 13.8 percent stake in CHS.
BlackRock upped its investment in CHS as the hospital operator is exploring options with financial sponsors. During a third-quarter earnings call, CEO Wayne Smith said CHS is in talks to sell 17 hospitals and other assets to trim its debt load.
More articles on healthcare finance:
Kindred to close Texas hospital, leaving 92 without jobs
Retired cardiologist says hospitals’ quest for profits fuels higher healthcare costs
UPMC operating margin shrinks in Q1
