Community Health Systems said Tuesday it will sell a 60-bed hospital in the small city of Leesville, La., to Allegiance Health Management as part of a broader sell-off the hospital chain is undertaking.
CHS said in a news release that the sale of Byrd Regional Hospital is among the health system's planned divestitures. The transaction, pending regulatory approvals, is expected to close in the second quarter of 2018.
CHS, a for-profit system based in Franklin, Tenn., is in part trying to reduce its debt load. The system reported outstanding debt of $13.9 billion in the third quarter of 2017. Its net loss from continuing operations grew to $108 million that quarter, from $77 million at the same time in 2016.
In the company's third quarter earnings report, CHS announced it had completed sales on the 126-bed Highlands Regional Medical Center in Sebring, Fla. and the 181-bed Merit Health Northwest Mississippi in Clarksdale.