---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-053968"
form_type: "8-K"
ticker: "CYH"
cik: "0001108109"
company_name: "COMMUNITY HEALTH SYSTEMS INC"
filed_at: "2023-02-28T23:59:59+00:00"
generated_at: "2026-06-18T20:55:58.277725+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-23-053968
- form_type: 8-K
- ticker: CYH
- cik: 0001108109
- company_name: COMMUNITY HEALTH SYSTEMS INC
- filed_at: 2023-02-28T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1108109/000119312523053968/0001193125-23-053968-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1108109/000119312523053968/d449097d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-053968
- JSON: https://secwatch.observer/filing/0001193125-23-053968.json
- Plain text: https://secwatch.observer/filing/0001193125-23-053968.txt

## Key facts
- Material Agreements
  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
  source text: 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”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1108109/000119312523053968/0001193125-23-053968-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.