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CHS Completes Sharon Regional, Munroe Hospital Deals

Community Health Systems, based in Franklin, Tenn., has completed two separate hospital transactions: Sharon (Pa.) Regional Health System and Munroe Regional Medical Center in Ocala, Fla.

Sharon Regional includes 251-bed Sharon Regional Medical Center and several outpatient centers and affiliated physician practices. Munroe Regional, formerly a public-owned entity, is a 421-bed facility.

Both acquisitions have been in the making for a while. CHS and Sharon Regional signed an initial nonbinding letter of intent in August before signing a definitive agreement in February. CHS signed a definitive agreement to enter into the 40-year, $425 million lease of Munroe Regional in March, but that was after more than a year of Munroe Regional choosing a suitor. The hospital originally selected Health Management Associates, based in Naples, Fla., and CHS took control of the deal after it acquired HMA earlier this year.

CHS now owns, operates or leases 208 hospitals in 29 states — solidifying its status as the largest for-profit, acute-care hospital chain in the country by hospital count. Florida and Pennsylvania have the highest numbers of CHS-affiliated facilities.

More Articles on Hospital Transactions:
Catholic Health Initiatives Completes Mercy Hot Springs Acquisition
20 Statistics on Hospital Transactions by Bed Count
California Company to Purchase Bankrupt Fairmont General Hospital

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