Dive Brief:
- Community Health Systems has notched a deal to sell four hospitals in Arkansas as the for-profit hospital system continues deleveraging its portfolio.
- Missouri-based Freeman Health System will acquire the hospitals for $112 million, the company said Thursday.
- The transaction is expected to close in the second quarter of this year. When completed, the deal will mark Freeman’s first expansion into Arkansas, the health system said.
Dive Insight:
CHS expects to close the deal on June 1, according to the health system’s closing documents. The deal can be terminated by either party if the transaction hasn’t closed on or before Aug. 1, although both parties can agree to extend the date.
The hospitals included in the deal are 128-bed Northwest Medical Center — Bentonville; 222-bed Northwest Medical Center — Springdale; 64-bed Northwest Medical Center — Willow Creek Women’s Hospital; and 73-bed Siloam Springs Regional Hospital.
The deal represent’s Freeman’s first foray into Arkansas. Based in Joplin, Missouri, the nonprofit health system has service areas in Missouri, Oklahoma and Kansas…