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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.

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