Community Health Systems has entered into a definitive agreement to sell its Tennova Healthcare hospital to Hamilton Health Care System, CHS said Thursday.
The $160 million cash transaction with Dalton, Georgia-based Hamilton, which requires regulatory approval, is expected to close in the third quarter, CHS said in a news release.
Related article: Community Health Systems considers selling $1B of facilities
The hospital in Cleveland, Tennessee, is one of many that for-profit CHS plans to divest. In February, the health system said it planned to sell $1 billion of its facilities to improve its income.
The Franklin, Tennessee-based system sold eight hospitals last year, including three Florida hospitals to Tampa General Hospital and its locations in West Virginia.
CHS also looks to exit North Carolina through a $320 million sale of two hospitals to Winston-Salem, North Carolina-based Novant Health. But the Federal Trade Commission filed a lawsuit in January to block the deal, alleging it would stifle competition.
The system and Novant Health has shot back at the agency, saying it would not stifle competition with the sale.
