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Troubled hospital giant CHS looking to sell its business

Executive Director - Monday, September 19, 2016

Troubled Community Health Systems is considering selling its entire business, according to various reports Friday.

Quoting anonymous sources “with knowledge of the matter,” Bloomberg saidhospital giant CHS had enlisted advisers to consider options. Deliberations are in the early stages and there is no certainty of a deal, according to reports.

CHS's battered stock price surged on the rumors, closing up 16% Friday to $12.27 per share.

CHS spokeswoman Tomi Galen said CHS does not comment on rumors.

Earlier this month, Modern Healthcare reported that CHS plans to sell more than the 12 hospitals it has for sale, quoting CFO Larry Cash speaking at the Wells Fargo Securities Healthcare Conference in Boston.

Cash said they are getting interest in additional hospitals. And after examining its portfolio of 159 hospitals, it likely will see “other transactions” before the end of the year, he said.
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