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CHS moves closer to divesting 85-bed Tennessee hospital

West Palm Beach, Fla.-based Rennova Health announced May 14 it expects to close a deal to acquire 85-bed Tennova Healthcare-Jamestown (Tenn.) from Franklin, Tenn.-based Community Health Systems on June 1.

Rennova and CHS signed a definitive agreement for the sale of the hospital in January. Rennova said it believes all customary regulatory approvals and closing conditions will be completed prior to June 1.

CHS is working to sell a group of hospitals with combined revenue of $2 billion to pay down its debt. Since announcing the plan late last year, CHS has sold one hospital and entered into definitive agreements to sell six others, including Tennova Healthcare-Jamestown.

More articles on healthcare transactions:

Northwestern, Centegra seek to finalize 10-hospital merger
Partners HealthCare, 1.2M-member health plan considering merger
ProMedica to acquire nursing home chain — creating $7B health network

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