CHS to sell Tennova Healthcare-Cleveland to Hamilton Health Care for $160M cash

COMMUNITY HEALTH SYSTEMS INC

Total base purchase price $160M in cash, subject to net working capital and other adjustments.
Hospital is 351-bed Tennova Healthcare – Cleveland, Tennessee, including related businesses.
Closing expected in Q3 2024, subject to HSR waiting period and customary conditions.
Additional contingent consideration possible from changes to supplemental reimbursement programs.
Sale is among additional potential divestitures discussed on Q4 2023 earnings call.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

COMMUNITY HEALTH SYSTEMS INC entered into Asset Purchase Agreement with Hamilton Health Care System, Inc. and certain of its affiliates (collectively, the "Purchaser") valued at $160 million in cash (effective 2024-04-18).

Action: entry
Agreement: asset purchase
Counterparty: Hamilton Health Care System, Inc. and certain of its affiliates (collectively, the "Purchaser")
Value: $160 million in cash
Effective: 2024-04-18

Exact text from the filing

On April 18, 2024, certain wholly-owned subsidiaries (the "Selling CHS Entities") of Community Health Systems, Inc. (the "Company"), entered into an Asset Purchase Agreement (the "Purchase Agreement") with Hamilton Health Care System, Inc. and certain of its affiliates (collectively, the "Purchaser").

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COMMUNITY HEALTH SYSTEMS INC filing history →

Source: SEC EDGAR

accession 0000950170-24-045596

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