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Quorum in talks to divest 4 hospitals

Brentwood, Tenn.-based Quorum Health was a 38-hospital system when it spun off from Franklin, Tenn.-based Community Health Systems in 2016. That number may shrink to 20 early next year, according to the Nashville Post.

Over the past three years, Quorum has sold 12 hospitals and closed two. As of Sept. 30, the company owned or leased 24 hospitals.

On a recent call with analysts and investors, Quorum President and CEO Bob Fish said the company is in talks to sell up to four hospitals. Those deals could be finalized by the end of the first quarter of 2020, according to the Nashville Post.

Quorum ended the third quarter of 2019 with a net loss of $76 million on revenues of $419.9 million. In the same period a year earlier, the company reported a net loss of $54 million on revenues of $460.5 million.

More articles on healthcare industry transactions:

Welltower strikes $787M deal for medical office portfolio
For-profit hospital M&A update: 15 deals involving CHS, Tenet, HCA and Quorum
CommonSpirit divests KentuckyOne Health

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