Quorum Health has agreed to sell two of at least eight rural hospitals it has for sale to reduce debt and refine its portfolio.
The 38-hospital system has a definitive agreement to sell its 64-bed Sandhills Regional Medical Center in Hamlet, N.C., to FirstHealth of the Carolinas and its 56-bed Barrow Regional Medical Center in Winder, Ga., to Northeast Georgia Health System. Both deals are expected to be completed by year-end, subject to regulatory approvals. No terms were disclosed. The Brentwood, Tenn.-based system has drawn the ire of some investors almost from the time of its April spinoff from Community Health Systems as a separate public company. CHS is using the $1.2 billion in proceeds from the spinoff to pay down its debt, which is high by industry standards.