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CHS Finalizes Deal for Sharon Regional Health System

Community Health Systems, based in Franklin, Tenn., has signed a definitive agreement, acquiring all assets of Sharon (Pa.) Regional Health System.

Financial details of the transaction were not disclosed. CHS and Sharon Regional inked the initial nonbinding letter of intent in August. Under those terms, CHS would purchase the nonprofit Sharon Regional, which includes a 251-bed hospital and several outpatient centers, and the for-profit CHS would also make several capital investments.

Previously, CHS mentioned Cleveland Clinic would also be a strategic medical partner with Sharon Regional but would not own any stake in the hospital. CHS and Cleveland Clinic created a quality alliance last March.

The transaction must now receive state and federal approval. The Pennsylvania Office of Attorney General will conduct a public hearing Feb. 6 on the proposed sale and will accept comments through Feb. 18.

More Articles on Hospital Transactions:
UNC Health Care Adds Johnston Health
Highlands-Cashiers Hospital Officially Joins Mission Health
Houston Methodist Finalizes Acquisition of 2 Christus Hospitals

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