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CHS divests 3 Virginia hospitals, appoints new CFO

Franklin, Tenn.-based Community Health Systems no longer operates hospitals in Virginia after selling three hospitals to Cincinnati-based Bon Secours Mercy Health.

CHS completed the sale of its three Virginia hospitals on Jan. 1, roughly two months after entering into a definitive agreement with Bon Secours. The following hospitals were included in the transaction: 300-bed Southside Regional Medical Center in Petersburg, 105-bed Southampton Memorial Hospital in Franklin and 80-bed Southern Virginia Medical Center in Emporia.

CHS also has a new finance chief. Kevin Hammons was appointed executive vice president and CFO Jan. 1. He succeeds Thomas J. Aaron, who served as CFO from May 2017 until he retired Dec. 31.

Mr. Hammons joined CHS more than 20 years ago and has held several financial leadership roles. Most recently, Mr. Hammons served as assistant CFO and treasurer. During his time at CHS, Mr. Hammons has helped oversee accounting, financial reporting, budgeting, capital market transactions, treasury management functions, Securities and Exchange Commission reporting and CHS' divestiture program.

CHS Chairman and CEO Wayne T. Smith said he's confident the leadership transition will be "smooth and seamless."

"I am confident Kevin will continue to lead and execute strategies that improve the company's financial performance and help position Community Health Systems for future success. Kevin is supported by a very tenured and committed finance team," Mr. Smith said in a Dec. 12 news release.

More articles on healthcare industry transactions:

Adventist Health to take over 20th California hospital
Tenet's $350M divestiture deal faces opposition
7 hospital mergers called off in 2019

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