Community Health Systems, Seeking To Relieve Debt Load, Aims To Sell 17 Hospitals
The company is also looking to sell its home-health-care business and some real estate. In other news, a suburban hospital in Maryland battles a bacterial outbreak, and an Illinois hospital falls a grade in recent safety rankings.
Modern Healthcare:
CHS Increases Hospital Divestitures To 17
Community Health Systems is now working on seven transactions to sell 17 hospitals, its home-care business and other real estate, CEO Wayne Smith said during a third-quarter earnings call with analysts Wednesday. The developing divestitures have combined revenue of about $2 billion and should yield net proceeds of about $1.2 billion, Smith said. Some of the deals could be announced this quarter with others revealed by the second half of next year, he said. CHS has been divesting assets to reduce a crushing debt of $15 billion, among the highest for investor-owned hospital companies nationally. (Barkholz, 11/2)
The Baltimore Sun:
Bacterial Outbreak Closes Prince George's Hospital Neonatal Intensive Care Unit
Prince George's [Maryland] Hospital Center said Wednesday it is temporarily closing its neonatal intensive care unit and transferring five babies to other hospitals because of a bacterial outbreak. The decision was made after two babies tested positive for the bacterium Pseudomonas. The bacterium is found widely in soil, water and other parts of the environment. While it doesn't harm most healthy people it can lead to illness in small babies with health challenges. (McDaniels, 11/2)
Chicago Tribune:
Edward Officials Vow Improvement After Loss Of 'A' Grade
Edward Hospital in Naperville has lost its "A" ranking for patient health and safety, according to a national nonprofit that reviews medical facilities for "hospital transparency" and overall health care quality. The Leapfrog Group this week awarded a "safety grade" of "B" to the hospital for the second time since 2014. Previously, Edward had received an "A" grade for every period since 2013 with the exception of the "B" it was given in fall 2014, according to data provided by the group. (Bird, 11/2)
