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CHS will sell off more hospitals

September 9, 2016by Robert Whitcomb in Uncategorized tagged ,

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Franklin, Tenn.-based Community Health Systems will divest itself of more hospitals than previously announced, reports WFMJ.

CHS said  last month it would sell 12 hospitals, up from the 10 that it had originally expected to unload.  Now the system expects to sell more than 12 hospitals to cut its debt.

CHS had a second-quarter loss of  $1.4 billion,  compared with a profit of $117 million in the year-earlier quarter.

It has not disclosed which hospitals  it is negotiating to sell.

To read the full story, please hit this link.

 

CHS on a divestiture kick

June 1, 2016by Robert Whitcomb in Uncategorized tagged ,

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Giant for-profit Community Health Systems, based in Franklin, Tenn., plans to sell off at least 10 hospitals and perhaps as many as 30.

CFO Larry Cash  said  the chain would henceforth focus on  outpatient and other regional service lines in the 11 markets where it owns more than one hospital as well as boost such services as orthopedics and cardiology in  markets where it owns only one hospital. CHS has 73 hospitals around those 11 regional hubs.

The 10 unnamed hospitals currently being shopped by CHS have single-digit profit margins;  margins for CHS hospitals more traditionally average 15 percent.

“We will continue to divest hospital operations that cannot meet these criteria and they are not productive to our results,” he said.

CHS  now has 160 acute-care hospitals, which might drop to 130 to 140 hospitals by the end of next year.

Eight CHS hospitals  in Florida and two in Tennessee are at the center of CHS’s earnings decline.

Mr. Cash, meanwhile,  told investors that centralizing management of  CHS physician practices from Nashville should help with physician efficiency and retention. Read this link for more information.

 

 

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