Community Health Systems has agreed to acquire a majority ownership of 227-bed IU Health La Porte Hospital in La Porte and 50-bed IU Health Starke Hospital in northwestern Indiana.
The deal will be executed by the company’s subsidiaries, which will assume 80% ownership of the hospitals, while Indiana University Health will have the remaining 20%.
With the addition of these hospitals, Community Health Systems affiliates will operate 11 hospitals in Indiana.
Community Health Systems chairman Wayne Smith said: "We will support the work of these hospitals to improve the overall health of their communities by investing capital and expanding resources for physicians and employees to deliver high-quality care.
"Economic development efforts in northwest Indiana between Valparaiso and South Bend and a new relationship with IU Health make these hospitals strong additions to our network of facilities."
Community Health Systems is one of the largest publicly traded hospital companies in the US and a leading operator of general acute care hospitals in communities across the country.
The company, through its subsidiaries, leases or operates 197 affiliated hospitals in 29 states with an aggregate of 30,000 licensed beds.
In collaboration with Quorum Health Resources, the company announced plans for a spin-off transaction to create a new, publicly traded company, Quorum Health Corporation, with 38 affiliated hospitals and related outpatient services in 16 states.
The transaction is expected to be completed during the first quarter of this year.