Last month, Community Health Systems, Inc. announced divestments of five hospitals. In early March, the company signed a definitive agreement to sell 125-bed Stringfellow Memorial Hospital in Anniston, Ala., to The Health Care Authority of the City of Anniston. In mid-March, the company signed an agreement to sell four Pennsylvania hospitals and their associated assets to subsidiaries of PinnacleHealth System. Hospitals included in the transaction are 100-bed Memorial Hospital of York in York, 214-bed Lancaster Regional Medical Center in Lancaster, 148-bed Heart of Lancaster Regional Medical Center in Lititz and 165-bed Carlisle Regional Medical Center in Carlisle.
On the buy side, Envision Healthcare Corporation (NYSE: EVHC) has entered into a definitive agreement to acquire Imaging Advantage LLC, a provider of comprehensive radiology services including hospital-based, outpatient and remote-reading services, in a transaction that will expand Envision's presence in radiology physician services across the country. Imaging Advantage deploys a cloud-based technology to optimize provider utilization and efficiency of more than 400 radiologists who provide services across a clinical network that includes more than 435 healthcare facilities.