COMMUNITY HEALTH SYSTEMS INC (CYH): M&A transaction — CHS completes $92M sale of Plateau Medical Center to Vandalia Health

COMMUNITY HEALTH SYSTEMS INC

Sold Plateau Medical Center (25 beds, Oak Hill, WV) for ~$92M cash, effective April 1, 2023.
Buyer: affiliates of Vandalia Health, Inc.; preliminary closing on March 31, 2023.
Pro forma adjustments show pre-tax gain of $36M and net gain of $30M on the sale.
Pro forma net operating revenues reduced by $53M for year ended Dec 31, 2022 reflecting Plateau's elimination.
Divestiture aligns with previously disclosed strategy to sell non-core hospitals.

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 $92 million in cash (closed 2023-03-31).

Action: disposition
Counterparty: Vandalia Health, Inc.
Consideration: approximately $92 million in cash
Closing: 2023-03-31

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 March 31, 2023 was approximately $92 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 0001193125-23-089022

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