Community Health Systems Announces Definitive Agreement To Sell Three Pennsylvania Hospitals To WoodBridge Healthcare Inc. For $120M
Portfolio Pulse from Benzinga Newsdesk
Community Health Systems, Inc. (NYSE:CYH) has entered into a definitive agreement to sell three Pennsylvania hospitals to WoodBridge Healthcare Inc. for $120 million. The transaction is expected to close in the fourth quarter of this year, pending regulatory approvals.
July 30, 2024 | 9:01 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Community Health Systems, Inc. (NYSE:CYH) has agreed to sell three Pennsylvania hospitals to WoodBridge Healthcare Inc. for $120 million. The deal includes a $10 million prepayment for IT transition services and is expected to close in Q4, subject to regulatory approvals.
The sale of three hospitals for $120 million will likely improve CYH's financial position by reducing debt and focusing on core assets. The transaction's completion in Q4, pending regulatory approvals, adds a positive outlook for the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100