Community Health Systems sold three Florida hospitals to Tampa General Hospital in a $294 million cash deal that closed Friday, the for-profit health system announced.
The transaction involves the 120-bed Bravera Health Brooksville in Brooksville, the 128-bed Bravera Health Seven Rivers in Crystal River and the 124-bed Bravera Health Spring Hill in Spring Hill, in addition to clinics and outpatient services.
Tampa General said in a Friday news release the acquired facilities, which will form TGH North, mark its largest expansion in recent years. It operates six hospitals and more than 150 care locations.
Franklin, Tennessee-based Community Health Systems, which operates 71 hospitals and more than 1,000 care sites, has been selling hospitals for years to cut costs and achieve a more efficient footprint. The system reported a $91 million third-quarter net loss, more than double the $42 million loss in the year-ago period. It reported a $180 million loss for the year's first nine months.