April 30, 2020

Community Health Systems Agrees to Sell Three Hospitals

On April 27, Community Health Systems announced an executed definitive agreement to sell two Texas hospitals to subsidiaries of Hendrick Health System.  As part of the sale of the 231-bed Abilene Regional Medical Center and 188-bed Brownwood Regional Medical Center, Hendrick will work with Brownwood County Hospital Authority to secure long-term lease and operations arrangements. The regulatory approval process is expected to conclude by the end of the third quarter of 2020.

In addition to the Texas transaction, Community Health Systems has signed a definitive agreement to sell its majority interest in the 84-bed St. Cloud Regional Medical Center to Orlando Health, a current minority owner.  The sale is expected to close in summer of 2020, subject to regulatory approvals.