Community Health Systems and Quorum Health move forward with hospital sales


Community Health Systems and Quorum Health move forward with hospital sales

By MATT BLOIS

The Williamson County hospital chains Community Health Systems and Quorum Health are both moving forward with their plan to sell off hospitals.

CHS completed the previously announced sale of two hospitals in Florida in late August. Quorum will move forward with a previously announced plan to sell a California hospitals.

Community Health Systems sold a 193-bed hospital in Davenport, Florida and a 160-bed hospital in Lake Wales, Florida to AdventHealth, a faith-based nonprofit health system based in Florida.

Community Health Systems has been selling off hospitals in order to pay off its debt. The company had about 195 hospitals at the end of 2015. CHS sold or closed 43 hospitals in 2017 and 2018. Now, it has just over 100 hospitals.

Quorum Health, which spun off from CHS in 2016, has also been reducing its hospital portfolio as well.

The company announced that it would proceed with the previously announced sale of a 106-bed hospital in Watsonville, Calif. The Pajaro Valley Health Trust had the right of first refusal on that sale, but decided not to buy the hospital.

Quorum expects to complete that sale by the end of September 2019. Quorum had 38 hospitals when it spun off from CHS in 2016. Now it has 26 hospitals.

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