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Rural hospital sells apartment complex to 'focus on primary mission'

The board of Sarah D. Culbertson Memorial Hospital, a 22-bed rural hospital based in Rushville, Ill., voted to sell a senior assisted-living apartment complex for financial reasons, according to the Journal Star, a newspaper based in Peoria, Ill. 

The apartment complex, which the hospital had owned and operated for 21 years, was putting added financial strain on Culbertson Memorial. 

"Ultimately, we decided to focus on our primary mission, which is to operate a hospital, and that we must do whatever is necessary to keep that hospital financially viable for the long term," hospital CEO John Kessler said, according to the report. 

The move comes as many other hospitals and health systems are seeking to expand their long-term care and outpatient care assets. 

Read the full story here.


More articles on transactions and valuation:

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