Here are eight updates on Community Health Systems, a 94-hospital system based in Franklin, Tenn., reported by Becker’s Hospital Review since June 15.
1. CHS’ sale of Texas hospital delayed
Community Health Systems’ sale of a 171-bed hospital in San Angelo, Texas, is delayed due to a slower-than-expected Certificate of Public Advantage review.
2. Florida hospital to close Aug. 31
Shands Lake Shore Regional Medical Center in Lake City, Fla., announced it will end all services at the hospital and its physician clinics on Aug. 31. The announcement came after Community Health Systems, which operates the hospital, entered into a settlement and termination agreement with the Lake Shore Hospital Authority for the planned closure of Shands Lake Shore on June 30.
3. CHS swings to $70M profit in Q2, plans to sell more hospitals
CHS reported a net income of $70 million in the second quarter of this year, compared to a net loss of $167 million in the same period a year earlier.
4. CHS, Quorum to pay $18M to end shareholder lawsuit
A group of shareholders asked a federal judge July 21 for preliminary approval of an $18 million settlement in their class-action lawsuit against Community Health Systems and its spinoff Brentwood, Tenn.-based Quorum Health.
5. CHS’ sale of 480-bed Florida hospital moves forward
Orlando (Fla.) Health’s proposed takeover of Bayfront Health St. Petersburg (Fla.) Hospital from Community Health Systems received approval from the St. Petersburg City Council.
6. CHS sells hospital, exits Louisiana
Community Health Systems completed the sale of Northern Louisiana Medical Center in Ruston to Allegiance Health Management.
7. CHS sells hospital to Orlando Health
Orlando (Fla.) Health on July 1 completed its acquisition of St. Cloud (Fla.) Regional Medical Center from Community Health Systems.
8. April volume change for HCA, Tenet & CHS
A report released in late June showed admissions were down about one-third in April for HCA Healthcare, Tenet Healthcare and Community Health Systems compared to the year prior, with even higher declines recorded in surgeries and emergency department visits.
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