Rockwood Health System includes two hospitals — 388-bed Deaconess Hospital in Spokane and 123-bed Valley Hospital in Spokane Valley, Wash. — and a multispecialty clinic.
MultiCare signed a definitive agreement to acquire the health system from Franklin, Tenn.-based Community Health Systems in November. CHS agreed to divest the facilities as part of its plan to achieve financial stability.
A spokesperson for MultiCare said officials expect the necessary state regulatory agencies to issue a decision on the sale by mid-June. The sale of the multispecialty clinic is not subject to regulatory approval, according to the report.
More articles on transactions and valuations:
The Carle Foundation acquires second Illinois hospital
Providence St. Mary Medical Center to integrate with Adventist-run Washington hospital
Baptist Hospitals of Southeast Texas partners with 2 cancer centers
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.