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CHS seeks to end Florida hospital lease

Franklin, Tenn.-based Community Health Systems has asked to be released from a long-term lease it holds for a 99-bed hospital in Lake City, Fla., according to TV station WCJB

CHS, a for-profit hospital operator, is seeking to end its lease of Shands Lake Shore Regional Medical Center. The company is requesting to terminate the lease agreement nearly 20 years before it is set to expire in 2040, according to the report. 

Shands Lake Shore supports 240 jobs and is one of 14 hospitals CHS operates in Florida. 

CHS has focused on strengthening its hospital portfolio over the past three years by selling off hospitals across the U.S. The company, which operates 99 hospitals across 17 states, ended the first quarter of this year with net income of $18 million on revenue of $3 billion. A year earlier it reported a net loss of $118 million on revenue of $3.4 billion. 

More articles on healthcare industry transactions:
Beaumont, Summa Health cancel $6.1B merger plan
Prospect Medical Group to add 10,000 physicians with 3 acquisitions
4 Chicago hospitals call off $1.1B merger plan

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