Community Health Systems Announces Definitive Agreement to Sell the Assets of Ocala, Florida Hospital
Published: Wednesday, May 23, 2018 10:06 am
Community Health Systems, Inc. (NYSE: CYH) has announced that an affiliate of the Company has signed a definitive agreement to sell substantially all of the associated assets of 421-bed Munroe Regional Medical Center in Ocala, Florida, to Florida Hospital Ocala, Inc., a subsidiary of Adventist Health System Sunbelt Healthcare Corporation. As part of the transaction, Florida Hospital will assume the long-term lease and operations of Munroe Regional Medical Center. The transfer of the lease is subject to the consent of the Marion County Hospital District. The transaction is expected to close in the third quarter of 2018, subject to customary regulatory approvals and closing conditions.
The hospital included in this transaction is among the additional planned divestitures discussed on the Company's fourth quarter 2017 earnings call.
Kaufman, Hall & Associates, LLC is acting as the exclusive financial advisor to Adventist Health System on this transaction.