Sponsored by VMG Health | info@vmghealth.com | 214.369.4888

CHS to sell Alabama hospital as part of debt reduction effort

Franklin, Tenn.-based Community Health Systems has inked a deal to sell off another one of its hospitals as part of its debt reduction plan.

CHS has signed a definitive agreement to sell 125-bed Stringfellow Memorial Hospital in Anniston, Ala., to The Health Care Authority of the City of Anniston for $25 million, which includes the assumption of the $13 million facility lease.   

The transaction, which is expected to close in the second quarter of 2017, is part of a turnaround plan CHS put into place last year to improve its finances. In an attempt to trim its debt load, the company is selling 25 hospitals, including Stringfellow Memorial.

Mort articles on healthcare industry transactions:  

11 hospital deals to acquire ASCs in 2016
Tenet Healthcare to sell 6 home health facilities to Amedisys
5 most-read transactions and valuations stories in February

© Copyright ASC COMMUNICATIONS 2019. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

 

Top 40 Articles from the Past 6 Months