Franklin, Tenn.-based Community Health Systems has signed a definitive agreement to sell four Arkansas hospitals to Freeman Health System for $112 million.
Five things to know:
1. The hospitals include:
- Northwest Medical Center-Springdale: 222 beds
- Northwest Medical Center-Bentonville: 28 beds
- Siloam Springs Regional Hospital: 73 beds
- Northwest Medical Center-Willow Creek Women’s Hospital (Johnson): 64 beds
2. Freeman Health is a four-hospital system headquartered in Joplin, Mo. It currently operates two hospitals in Joplin, one in Neosho, Mo., and another in Fort Scott, Kan., which opened in September.
3. The acquisition would see Freeman Health — a nonprofit, independent system with more than 350 physicians — double its hospital footprint and enter the Arkansas hospital market.
4. The transaction is expected to close in the second quarter, pending regulatory approvals and closing conditions.
5. CHS has sold roughly 35% of its hospital portfolio over the past several years as it refines its footprint around core markets and reduces debt. The for-profit system currently owns or leases 65 hospitals and more than 900 care sites across 13 states.
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