COMMUNITY HEALTH SYSTEMS INC (CYH): M&A transaction — Community Health Systems completes $85M sale of Greenbrier Valley Medical Center to Vandalia Health

COMMUNITY HEALTH SYSTEMS INC

Sale of Greenbrier Valley Medical Center closed Jan 1, 2023; purchase price ~$85M cash.
Pro forma gain on sale estimated at $28M pre-tax, $24M net of tax.
122-bed hospital divested in Ronceverte, West Virginia to Vandalia Health.
Transaction previously highlighted on Q3 2022 earnings call.
Pro forma shows net loss attributable to CHS stockholders increased by $2M for nine months ended Sep 30, 2022.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

COMMUNITY HEALTH SYSTEMS INC completed a disposition involving Vandalia Health, Inc. for approximately $85 million in cash (closed 2022-12-30).

Action: disposition
Counterparty: Vandalia Health, Inc.
Consideration: approximately $85 million in cash
Closing: 2022-12-30

Exact text from the filing

as amended (the “Purchase Agreement”). The purchase price paid to the Company in connection with the Transaction at a preliminary closing on December 30, 2022 was approximately $85 million in cash. The Purchase Agreement is attached as Exhibit 2.1 (which is incorporated by reference herein) in accordance with the rules of the Securities and Exchange Commission. The

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COMMUNITY HEALTH SYSTEMS INC filing history →

Source: SEC EDGAR

accession 0001193125-23-000804

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