Community Health Systems sold two hospitals in Florida, including Lake Wales Medical Center in Lake Wales, Florida. // Photo courtesy of Lake Wales Medical Center
By MATT BLOIS
Community Health Systems will sell two hospitals in Florida. The hospital chain based in Franklin had 195 hospitals at the end of 2015, and now that number is closer to 100.
The company has been pruning its portfolio of hospitals over the last several years. In a conference call earlier this year, CEO Wayne Smith said that would allow the chain to focus on hospitals located in more economically prosperous areas.
CHS sold four hospitals and closed three during the first three months of 2019. During a first quarter conference executives said the company had an agreement to sell another hospital in Tennessee.
According to a press release, the company intends to continue its efforts to sell hospitals throughout 2019. In 2018 CHS sold 11 hospitals and closed three more. They ended 2018 with 113 hospitals.
CHS signed agreements to sell the two hospitals in Florida to affiliates of Adventist Health System Sunbelt Healthcare Corporation. The two hospitals are the 193-bed Heart of Florida Regional Medical Center in Davenport, Florida and the 160-bed Lake Wales Medical Center in Lake Wales Florida.
The company expects those sales to close by the end of the third quarter of 2019.