Franklin, Tenn.-based Community Health Systems sold four Arkansas hospitals June 1 to Joplin, Mo.-based Freeman Health System for $110 million, according to a CHS news release.
The hospitals are part of CHS subsidiary Springdale, Ark.-based Northwest Health.
The sale covers “substantially all of the assets” for:
- Northwest Medical Center–Bentonville (Ark.), a 128-bed hospital;
- Northwest Medical Center–Springdale, a 222-bed hospital;
- Willow Creek Women’s Hospital, a 64-bed hospital in Johnson, Ark.;
- Siloam Springs (Ark.) Regional Hospital, a 73-bed hospital; and
- Associated outpatient centers and practices.
The two parties signed a definitive agreement for the sale March 5. CHS has divested some of its hospital portfolio in recent years to reportedly refine its core market portfolio and cut debt. CHS owns or leases 60 affiliated hospitals and more than 800 care sites, the release said.
“With this acquisition, Freeman will double in size, expanding our ability to serve patients and communities across four states, increasing access to care, and strengthening the future for those who depend on us,” Alex Curran, senior vice president and chief strategy officer of Freeman Health System, said in a May 31 LinkedIn post.
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