Community Health Systems, Inc. announced today that subsidiaries of the Company have signed a definitive agreement to sell 120-bed Bravera Health Brooksville in Brooksville, Florida, 128-bed Bravera Health Seven Rivers in Crystal River, Florida, 124-bed Bravera Health Spring Hill in Spring Hill, Florida, and their associated assets to Tampa General Hospital and certain of its affiliates for cash consideration of $280 million, excluding anticipated purchase price adjustments for net working capital and the amount of capital leases assumed by the buyer. Total cash consideration to be received, inclusive of these items, is estimated to be approximately $290 million.

The transaction is expected to close later this year, subject to customary regulatory approvals and closing conditions.

The divestiture of these hospitals is among the additional potential transactions highlighted on the Company’s first quarter 2023 earnings call.

Source:businesswire.com