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Quorum to divest California hospital

Brentwood, Tenn.-based Quorum Health has entered into a definitive agreement to sell Watsonville (Calif.) Community Hospital.

Quorum is selling the 106-bed hospital to Halsen Healthcare. Quorum said cash proceeds from the transaction are expected to be approximately $35 million to $40 million, and all proceeds will be used repay the company's long-term debt.

The transaction, which is subject to regulatory approval, is expected to close by the end of the third quarter of 2019.

More articles on healthcare industry transactions:

Hospital M&A update: 13 latest deals
Partners backs out of plan to acquire Care New England
Children's National, HSC Health Care to combine

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