Under the deal, the Victorville, Calif.-based Prime Healthcare Foundation would acquire Memorial Hospital of Salem County in Salem, N.J. The sale is expected to close before the end of June. The foundation operates seven other hospitals in California and Texas.
Since acquiring the hospital chain Health Management Associates in early 2014, CHS has made several deals to shed hospitals, including the sale of a Florida hospital to Prime Healthcare Services. In August, CHS announced it would spin off 38 small-market hospitals to a new publicly traded company.
Ontario, Calif.-based Prime Healthcare Services is expanding rapidly with recent deals for hospitals in Florida, Michigan and New Jersey, where the system won a bid last month for a hospital in bankruptcy.