The 119-bed hospital chain’s stock price traded as low as $2.88 on July 10 after closing July 9 at $3.12 per share. CHS’ shares have lost 33.3 percent of their value in the past month, since hitting $4.45 June 11.
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:
CHS closes Missouri hospital; physicians put their money on the line to expand services
The biggest financial pain points hospitals feel right now: Experts weigh in
OIG tags Wisconsin hospital for erroneous billing
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
