Community Health Systems, Inc. announced a definitive agreement to sell ShorePoint Health Port Charlotte, certain assets of ShorePoint Health Punta Gorda, and related ancillary businesses to subsidiaries of AdventHealth. The transaction is valued at $265 million in cash, subject to customary adjustments.
The sale includes ShorePoint Health Port Charlotte and assets of ShorePoint Health Punta Gorda, where inpatient operations were indefinitely suspended due to the effects of Hurricanes Helene and Milton. This divestiture aligns with the company's strategy of optimizing its portfolio.
The transaction is expected to close in the first quarter of 2025, pending regulatory approvals and closing conditions. The proceeds from this sale are part of the additional potential divestitures discussed by the company on its third-quarter 2024 earnings call, aimed at strengthening its financial position.
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