Community Health Systems selling Fla. hospital to Prime
Community Health Systems is selling one of its hospitals in Florida to Prime Healthcare Services.
CHS has been taking a hard look at its portfolio of hospitals over the past year and has made a number of divestitures and acquisitions. The review comes in the aftermath of its 2014 blockbuster merger with Health Management Associates, which made it the largest chain by hospital count.
The Franklin, Tenn.-based chain in August also disclosed plans to spin off 38 rural hospitals into a separate company as it concentrates on building regional networks in its larger markets.
In this latest deal, Ontario, Calif.based Prime will acquire 88-bed Lehigh Regional Medical Center in Lehigh Acres, Fla., a legacy HMA hospital. The deal is expected to close in the fourth quarter, and CHS said it is not expected to have a meaningful financial impact on its earnings.
After the sale, CHS will continue to operate 25 hospitals in Florida.