Community Health Systems, Inc. announced a definitive agreement to sell its collective 80% ownership interest in Cedar Park Regional Medical Center and certain ancillary businesses in Cedar Park, Texas. The buyer is Ascension Health, which currently holds a minority interest in the medical center.
The transaction is valued at $460 million in cash, subject to certain net working capital and other adjustments. This significant divestiture is expected to generate substantial proceeds for Community Health Systems, supporting its ongoing debt reduction initiatives.
The sale is anticipated to close late in the second quarter or early in the third quarter of 2025, pending regulatory approvals and closing conditions. This move aligns with the company's strategy of divesting non-core assets to improve its financial profile.
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