SBJ Groups has signed an agreement with Quorum to purchase 133-bed Galesburg Cottage Hospital, hospital CEO Bob Moore told The Register-Mail. He said the transaction is expected to be finalized on May 31.
Quorum, a spinoff of Franklin, Tenn.-based Community Health Systems, filed for Chapter 11 bankruptcy in early April. The company said the bankruptcy filing is part of a plan to recapitalize the business and reduce its debt by about $500 million.
More articles on healthcare industry transactions:
Verity continues hospital divestiture spree with $40M deal
CHS to sell Texas hospital
Billionaire Dr. Patrick Soon-Shiong buys California hospital for $135M
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