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CHS signs definitive agreement to divest NJ hospital

Subsidiaries of Franklin, Tenn.-based Community Health Systems have executed a definitive agreement to sell substantially all of the assets of Salem, N.J.-based The Memorial Hospital of Salem County, along with its related outpatient services, to Ontario, Calif.-based Prime Healthcare Foundation.

The divestiture is slated to close by the end of the second quarter of 2016, subject to customary regulatory approvals and closing conditions.

CHS does not expect its divestiture of The Memorial Hospital of Salem County to have a significant impact on its financial operations.

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