Quorum is ready to grow after shedding 16 hospitals

Brentwood, Tenn.-based Quorum Health recently emerged from Chapter 11 bankruptcy. The for-profit hospital operator's new CEO says the company is now set up for growth, according to the Nashville Business Journal

Since spinning off from Franklin, Tenn.-based Community Health Systems in 2016, Quorum's hospital portfolio has shrunk. The company operated 38 hospitals in 2016 and is now down to 22.

After years of downsizing, Quorum entered Chapter 11 bankruptcy in April. The company exited bankruptcy earlier this month with a lighter debt load and a new CEO. 

The company's new CEO, Joey Jacobs, most recently served as chair and CEO of Franklin, Tenn.-based Acadia Healthcare. Under Mr. Jacobs' leadership, Acadia grew from seven behavioral healthcare facilities in 2011 to nearly nearly 600 facilities in 2018 when Mr. Jacobs departed, according to the report.

Mr. Jacobs says he's ready to help Quorum expand its footprint after exiting bankruptcy. 

"Quorum has downsized, but it's a great company, the remaining pieces … Our equity holders want the company to grow and we will make selective acquisitions," he told the Nashville Business Journal. "We want to grow and we have the resources now." 

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