Community Health Systems Inc. of Franklin, Tennessee, said Thursday that it will sell its 133-bed Harris Hospital in Newport, along with related outpatient services, to White County Medical Center of Searcy.
The divestiture is expected to close early in the first quarter of 2015, subject to regulatory approvals and closing conditions.
In a news release, the company said it does not expect the divestiture to have a meaningful impact on financial operations.
Harris Hospital ranked 30th in Arkansas by net patient revenue, according to Arkansas Business’ most recent list of the state’s hospital. The hospital reported revenue of $31.7 million and a net loss of $9.3 million. It has 104 employees.
White County Medical Center ranked 10th, with revenue of $177.9 million and net income of $17.3 million. It has 1,305 employees.
Since October, CHS has announced the divestitures of three hospitals — one each in Texas, Alabama and South Carolina — and the purchase of two — one each in Mississippi and South Carolina.
Earlier this year, CHS completed the $3.6 billion acqusition of publicly traded Health Management Associates of North Naples, Florida, which provided services to 71 hospitals in 15 states.
After the Newport divestiture, publicly traded Community Health Systems affiliates will continue to operate nine hospitals in Arkansas: Sparks Regional Medical Center at Fort Smith; the Northwest Medical Center facilities in Bentonville and Springdale; Willow Creek Women’s Hospital at Johnson; Summit Medical Center at Van Buren; Siloam Springs Regional Hospital; Medical Center of South Arkansas at El Dorado; Forrest City Medical Center; and Helena Regional Medical Center.
In all, through its subsidiaries, the company owns, leases or operates 207 affiliated hospitals in 29 states with about 31,100 licensed beds.
Sign up for Daily E-news
