Community Health to sell 4 Pa. hospitals
Community Health Systems, Inc. (CYH) announced today that subsidiaries of the Company have signed a definitive agreement to sell four Pennsylvania hospitals and their associated assets to subsidiaries of PinnacleHealth System. Hospitals included in the transaction are 100-bed Memorial Hospital of York in York, 214-bed Lancaster Regional Medical Center in Lancaster, 148-bed Heart of Lancaster Regional Medical Center in Lititz and 165-bed Carlisle Regional Medical Center in Carlisle.
The transaction is expected to close in the summer of 2017, subject to customary regulatory approvals and closing conditions. The four hospitals included in this transaction are part of the 25 planned hospital divestitures discussed on the Company’s fourth quarter and year-end 2016 earnings call.