Community Health Systems’ (CYH) subsidiaries have entered into a definitive agreement to sell the two-hospital Sparks Health System and related businesses such as physician clinic operations and outpatient services, to Baptist Health in Little Rock, Arkansas, US.
The two hospitals are the 492-bed Sparks Regional Medical Center in Fort Smith and the 103-bed Sparks Medical Center in Van Buren.
Financial details of the deal have not been disclosed.
The transaction is anticipated to close in the fourth quarter of this year, subject to regulatory approvals and closing conditions.
After the transaction is completed, affiliates of the Community Health Systems will continue to operate six hospitals in the region.
In April, an affiliate of CHS had signed a definitive agreement to sell all the associated assets of 421-bed Munroe Regional Medical Center in Ocala, Florida to Florida Hospital Ocala, a subsidiary of Adventist Health System Sunbelt Healthcare Corporation.
As part of the transaction, the Florida Hospital will assume the long-term lease and operations of Munroe Regional Medical Center.
The deal is expected to close in the third quarter of 2018, subject to customary regulatory approvals and closing conditions
Headquartered in Franklin, Tennessee, Community Health Systems is a publicly traded hospital company in the US and an operator of general acute care hospitals.
The company, through its subsidiaries, owns and leases or operates 119 affiliated hospitals in 20 states with aggregate total of about 20,000 licensed beds.