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CHS divests 425-bed Florida hospital

Franklin, Tenn.-based Community Health Systems completed the sale of 425-bed Munroe Regional Medical Center in Ocala, Fla., to Altamonte Springs, Fla.-based Adventist Health System on Aug. 1.

Under the deal, Adventist also acquired Munroe Regional's medical group and outpatient facilities, including its freestanding emergency department. Adventist will rename the hospital Florida Hospital Ocala, and the facility will join Adventist's West Florida Division.

Munroe Regional is one of several hospitals with combined revenue of $2 billion that CHS intends to sell. During 2018, CHS has completed eight hospital divestitures and entered into definitive agreements to sell four others.

CHS ended the second quarter of 2018 with a net loss of $110 million on revenues of $3.56 billion. That's compared to the second quarter of 2017, when the company reported a net loss of $137 million on revenues of $4.14 billion.

More articles on healthcare industry transactions:

ProMedica forms $7B network with HCR ManorCare acquisition
Atlantic Health System partners with Optum's urgent care business on 11 centers
Ascension's shuttered Wisconsin hospital picked up by Froedtert Health

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