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.
The company this year has sold three hospitals in South Carolina and assumed full ownership of five hospitals in Oklahoma that were previously operated under a joint venture with Integris Health.
CHS isn't the only investor-owned chain rethinking its hospital portfolio. Iasis Healthcare, another Franklin, Tenn.-based chain, has made similar moves to focus on its core markets and managed care division.
Iasis on Monday said it completed its previously announced acquisition of Victory Medical Center Beaumont (Texas) from Victory Healthcare. The hospital will be known and operate as the Victory campus of another Iasis facility, the Medical Center of Southeast Texas in Port Arthur, about 20 miles away.
Iasis is building its presence in Texas after exiting Nevada and Florida over the past two years.