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CHS divests Florida hospital, plans to sell 2 others in Tennessee

Franklin, Tenn.-based Community Health Systems completed the divestiture of its hospital in St. Petersburg, Fla., on Oct. 1 and entered into agreements to sell hospitals in Tennessee. 

CHS sold 480-bed Bayfront Health St. Petersburg to Orlando (Fla.) Health. The deal closed roughly three months after the parties signed a definitive agreement. With the divestiture completed, CHS operates 11 hospitals in Florida. 

The for-profit hospital operator also signed a definitive agreement to sell Tennova Healthcare-Shelbyville (Tenn.) and Tennova Healthcare-Harton in Tullahoma, Tenn., and their outpatient clinics to Vanderbilt University Medical Center. Nashville, Tenn.-based VUMC will also acquire a minority ownership interest in CHS' Tennova Healthcare-Clarksville (Tenn.). 

This isn't the first transaction CHS and VUMC have entered into. In 2019, VUMC acquired Tennova Healthcare-Lebanon (Tenn.), a 274-bed hospital, from CHS. The hospital is now called Vanderbilt Health Wilson County. 

More articles on healthcare industry transactions:
Michigan lawmakers urge Beaumont, Advocate Aurora not to merge
Philadelphia safety-net hospital gets lifeline from 4-organization partnership
Top 5 drivers of hospital M&A

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