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CHC looking into selling everything

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Various media reports say that distressed Community Health Systems, based in Franklin, Tenn., is looking into selling the whole business.

Bloomberg said the hospital giant had hired advisers to consider options. Earlier this month, Modern Healthcare reported that CHS plans to sell more than the 12 hospitals it already has for sale, quoting CFO Larry Cash  at the Wells Fargo Securities Healthcare Conference in Boston.

Modern Healthcare reported: “Mr. Cash said they are getting interest in additional hospitals. And after examining its portfolio of 159 hospitals, it likely will see ‘other transactions’ before the end of the year….”

“The hospitals previously up for sale will likely be sold as part of five transactions. Not-for-profit hospital systems are among the prospective buyers, he said.”

CHS is not disclosing which hospitals it is negotiating to sell.

To read more on this developing story, please hit this link.

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