US-based Community Health Systems’ (CHS) subsidiaries have signed an agreement to sell Riverview Regional Medical Center and related outpatient services to Prime Healthcare Services.
Terms of the transaction were not disclosed.
Go deeper with GlobalData
Prime Healthcare Services will acquire all the assets from the 281-bed hospital, located in Gadsden, Alabama, US.
According to CHS, the divestment is required under an agreement with the Federal Trade Commission, following the firm’s January 2014 acquisition of Health Management Associates (HMA).
Riverview hospital is the first facility for Prime Healthcare in Alabama. Prime currently operates 29 hospitals.
Subject to customary closing conditions, the transaction is expected to be completed in the first quarter of 2015.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataCHS acquired Gaffney Medical Centre in South Carolina earlier this month.
Located in Gaffney, the 125-bed hospital was owned by a joint venture of Novant Health and a subsidiary of HMA.
In January, CHS acquired HMA and Novant will no longer retain any stake in the facility, as a result of the transaction.
CHS, through its subsidiaries, owns and leases or operates 207 affiliated hospitals in 29 states with an aggregate of 31,100 licensed beds.
