Community Health Systems, Inc. announced a definitive agreement to sell its 123-bed Lake Norman Regional Medical Center in Mooresville, North Carolina, and related businesses, to Duke Health. The transaction is valued at approximately $280 million, subject to certain adjustments.
This divestiture is part of the company's broader strategy to optimize its portfolio and reduce debt, following discussions on potential asset sales during its third-quarter 2024 earnings call. The sale aims to generate significant cash proceeds for the company.
The transaction is expected to close in the first quarter of 2025, contingent upon regulatory approvals and other closing conditions. This move reflects Community Health Systems' continued efforts to streamline its operations and focus on core assets.
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