The transaction, which is subject to customary regulatory approvals, is expected to close Dec. 31.
The divestiture comes after Quorum ended the second quarter with an operating loss of $259.3 million — a significant change from the operating income of $27.5 million the company recorded in the second quarter of last year. In August, the company said it planned to divest underperforming assets to drive down debt.
Regarding the Barrow Regional Medical Center transaction, Quorum President and CEO Thomas D. Miller said, “We have executed our first definitive agreement related to our previously disclosed strategy. We expect to announce additional definitive agreements for divestitures, which when consummated, will further contribute to reducing debt and improving financial performance.”
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