The 119-hospital chain’s stock price traded as low as $3.12 on July 2 after closing June 29 at $3.32 per share.
CHS’ share price began sinking June 29 after the company priced a new offering of approximately $1.03 billion of senior secured notes after markets closed June 28. The company intends to use the proceeds to pay off about $1.01 billion in outstanding term loans and related expenses.
More articles on healthcare finance:
Georgia hospital to close next month
Hospitals are moving to single ratings: Here’s why
CMS to terminate Idaho hospital’s Medicare billing privileges
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.
