Community Health Systems signs agreement to sell two NC hospitals to Novant Health for $320M

COMMUNITY HEALTH SYSTEMS INC

Definitive agreement to sell 123-bed Lake Norman Regional Medical Center and Davis Regional Medical Center for $320M cash.
Davis Regional is transitioning from acute care to inpatient behavioral health hospital.
Transaction expected to close in second half of 2023, subject to HSR and other regulatory approvals.
Hospitals were among additional potential divestitures discussed on Q4 2022 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 Novant Health, Inc. valued at $320 million in cash (effective 2023-02-28).

Action: entry
Agreement: asset purchase
Counterparty: Novant Health, Inc.
Value: $320 million in cash
Effective: 2023-02-28

Exact text from the filing

On February 28, 2023, CHS/Community Health Systems, Inc. (“CHS”), a wholly-owned subsidiary of Community Health Systems, Inc. (the “Company”), entered into an Asset Purchase Agreement (“Purchase Agreement”) with Novant Health, Inc., a North Carolina non-profit corporation (“Purchaser”).

View on SEC.gov

Browse all material agreements →

COMMUNITY HEALTH SYSTEMS INC filing history →

Source: SEC EDGAR

accession 0001193125-23-053968

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.