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CHS divests 3 Tennessee hospitals

Franklin, Tenn.-based Community Health Systems sold three hospitals in Tennessee to Jackson-based West Tennessee Healthcare on June 1.

CHS and West Tennessee Healthcare entered into a definitive agreement for the sale of Tennova Healthcare-Dyersburg Regional, Tennova Healthcare-Regional Jackson and Tennova Healthcare-Volunteer Martin in late March. The parties completed the transaction after West Tennessee Healthcare secured a $90 million bridge loan from Goldman Sachs to purchase the facilities, according to the Jackson Sun.

The three Tennessee hospitals are among a group of facilities with combined revenue of $2 billion CHS intends to sell. CHS will use the proceeds from the transactions to reduce its long-term debt load, which totaled $13.86 billion as of March 31.

More articles on healthcare industry transactions:

4 new types of healthcare deals we're seeing
OhioHealth looks to add 12th hospital
Bankrupt Miami hospital will be sold in auction

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