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CHS acquires majority ownership of 2 IU Health hospitals

Franklin, Tenn.-based Community Health Systems has acquired an 80 percent ownership interest in a joint venture entity with Indianapolis-based Indiana University Health that includes essentially all of the assets of 227-bed IU Health La Porte (Ind.) Hospital and 50-bed IU Health Starke Hospital in Knox, Ind.

CHS inked a definitive agreement to acquire a majority stake in the hospitals in late 2015. Under the deal, IU Health will retain the remaining 20 percent ownership interest in the two hospitals.

Commenting on the transaction, CHS Chairman and CEO Wayne T. Smith said, "This affiliation extends our footprint into new markets in Indiana, a state where we already have significant operations. We look forward to working with IU Health and supporting the dedicated physicians and employees who care for the La Porte and Stark communities."

With the deal completed, there are 11 CHS-affiliated hospitals in Indiana.

More articles on healthcare industry transactions:

UPMC's expansion into NY moves forward
22 hospital transactions and partnerships in February
West Virginia United Health System to acquire Reynolds Memorial

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