Community Health Systems, Franklin, Tenn., has announced or completed 13 divestitures since it acquired Triad Hospitals, Plano, Texas, for $6.97 billion in July. The latest deal is a definitive agreement to sell nine hospitals to Capella Healthcare, Franklin, for $315 million. Both companies expect the deal to close in the first quarter of 2008, perhaps as soon as Jan. 31, according to Community. The deal will require federal antitrust clearance and is subject to other closing conditions.
Community has completed two other divestitures since the deal closed, in Plaquemine, La., and Jonesboro, Ark., a spokeswoman said. Sales of its stakes in hospital joint ventures originally signed by Triad in Barberton, Ohio, and Denton, Texas, are still pending, the spokeswoman said.
For Capella, the deal would nearly triple its hospital portfolio. The privately held company owns five hospitals in three states and was founded in April 2005.
The hospitals involved in the Capella deal are: 70-bed Woodland Medical Center, Cullman, Ala.; 120-bed Parkway Medical Center, Decatur, Ala.; 119-bed Hartselle (Ala.) Medical Center; 52-bed Jacksonville (Ala.) Medical Center; 181-bed National Park Medical Center, Hot Springs, Ark.; 154-bed St. Mary's Regional Medical Center, Russellville, Ark.; 108-bed Mineral Area Regional Medical Center, Farmington, Mo.; 67-bed Willamette Valley Medical Center, McMinnville, Ore.; and 44-bed White County Community Hospital, Sparta, Tenn. Four were owned by Triad and five were Community facilities prior to the Triad deal.-- by Vince Galloro
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