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18 JOINT VENTURES CHS Divests 11 Hospitals, Adds 3 More to Sale Pipeline By Ayla Ellison F ranklin, Tenn.-based Community Health Systems completed its sale May 1 of eight hospitals to Boston-based Steward Health Care and divested two hospitals to Clinton, Tenn.-based Curae Health. CHS signed a definitive agreement to divest the hospitals to Steward in February. e following hospitals are included in the transaction: 1. 119-bed Wuesthoff Health System-Melbourne (Fla.) 2. 298-bed Wuesthoff Health System-Rockledge (Fla.) 3. 154-bed Sebastian (Fla.) River Medical Center 4. 355-bed Northside Medical Center in Youngstown, Ohio 5. 311-bed Trumbull Memorial Hospital in Warren, Ohio 6. 69-bed Hillside Rehabilitation Hospital in Warren, Ohio 7. 258-bed Sharon (Pa.) Regional Health System 8. 254-bed Easton (Pa.) Hospital With the transaction completed, CHS no longer operates any hospi- tals in Ohio, while it continues to operate 21 hospitals in Florida and 15 in Pennsylvania. e for-profit hospital operator also completed the sale of two Missis- sippi hospitals — 95-bed Merit Health Gilmore Memorial in Amory and 112-bed Merit Health Batesville — to Curae Health. Aer selling off the two facilities, CHS operates 10 hospitals in Mississippi. Although CHS finalized several transactions, the company's dives- titure spree is not over. CHS announced May 1 it signed a definitive agreement to sell 88-bed Lake Area Medical Center in Lake Charles, La., to Irving, Texas-based Christus Health. e transaction, which is subject to customary regulatory approvals, is expected to close in the second quarter of this year. CHS will also divest 350-bed Tomball (Texas) Regional Medical Center and 67-bed South Texas Regional Medical Center in Jourdanton to Nashville, Tenn.-based HCA Hold- ings. e deal is expected to close this summer. e announcements regarding the transactions come aer CHS said Apirl 28 it finalized the sale of 125-bed Stringfellow Memorial Hospital in Anniston, Ala., to e Health Care Authority of the City of Anniston. All of the divestures are part of a financial turnaround plan CHS put into place last year. Aer ending 2016 with a net loss of $1.7 billion, the company said it planned to sell 25 hospitals to trim its debt load and improve its finances. n It's getting harder and harder for your ASC to keep up. If you're ready to enjoy higher profits while concentrating on what you do best, call us today. And be fast on your feet in a changing industry. Increased Profitability | Superior Operations | Quality Patient Care (866) 982-7262 / www.ascoa.com / development@ascoa.com Operate Better Is your ASC falling behind?