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CHS to divest 85-bed Tennessee hospital to Rennova Health

Franklin, Tenn.-based Community Health Systems signed a definitive agreement Jan. 31 to sell Tennova Healthcare-Jamestown (Tenn.) to subsidiaries of West Palm Beach, Fla.-based Rennova Health.

Officials expect to close the deal during the second quarter of 2018, pending customary regulatory approvals and closing conditions.

The sale of the 85-bed hospital marks one of CHS' first divestitures since the health system announced its intent during a third quarter 2017 earnings call to shed at least 20 more hospitals in 2018 to reduce its debt load.

More articles on transactions and valuations:
Wellmont, MSHA receive final approval to merge
Florida Hospital withdraws bid to operate Sanford Burnham: 5 things to know
Cleveland Clinic to take over Florida hospital

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