Community Health to sell Cleveland, Tennessee, hospital for $160M

Community Health System “announced that certain subsidiaries of the Company have entered into a definitive agreement to sell 351-bed Tennova Healthcare – Cleveland in Cleveland, Tennessee, and certain related businesses to affiliates of Hamilton Health Care System, Inc. for $160 million in cash, subject to certain net working capital and other adjustments. Additional consideration may be received following the transaction contingent upon potential changes to certain supplemental reimbursement programs. The transaction is expected to close in the third quarter of this year, subject to customary regulatory approvals and closing conditions.”