Quorum divests Scenic Mountain Medical Center in Texas for $22m

15 April 2019 (Last Updated April 19th, 2019 15:59)

Quorum Health Corporation has closed the divestment of the 146-bed Scenic Mountain Medical Center in Big Springs, Texas, US, for $22m.

Quorum Health Corporation has closed the divestment of the 146-bed Scenic Mountain Medical Center in Big Springs, Texas, US, for $22m.

Proceeds from the sale will be used to pay down the term loan facility.

In January this year, Quorum Health signed a definitive agreement to divest the 146-bed medical centre.

Scenic Mountain Medical Center was among the five facilities discussed under a Letter of Intent on the company’s third quarter 2018 earnings conference call.

Quorum Health is an operator of general acute care hospitals and outpatient services in the US.

Through its subsidiaries, the firm owns, leases or operates a diversified portfolio of 27 affiliated hospitals in rural and mid-sized markets located across 14 states with a total of 2,604 licensed beds.

It also operates Quorum Health Resources, a hospital management advisory and consulting services business.

In October 2018, Quorum Health announced the completion of the sale of the physical assets of the 45-bed McKenzie Regional Hospital in McKenzie, Tennessee to Baptist Memorial Health Care.

This deal was effective on 30 September 2018.

Before the completion of the transaction, the firm had discontinued all operations at the facility.

All net proceeds from the transaction were used to pay down the term loan facility.