Jennersville Hospital to be sold
● Published by J. Chambless
Community Health Systems has agreed to sell five hospitals in Pennsylvania to the non-profit Reading Health System.
The five hospitals are part of the 30 hospitals that CHS has agreed to sell to reduce a $15 billion debt burden. Terms of the deal were not disclosed.
The facilities are the 63-bed Jennersville Hospital, the 169-bed Brandywine Hospital in Coatesville, the 148-bed Chestnut Hill Hospital in Philadelphia, the 151-bed Phoenixville Hospital in Phoenixville, and the 232-bed Pottstown Memorial Medical Center in Pottstown.
CHS is selling hospitals to improve its earnings and raise money to pay down its debt.
The system, the nation's second-largest investor-owned hospital company with 146 hospitals, posted a net loss of $1.7 billion in 2016.
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