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Diving abstract:
- Group Well being Programs will promote a 153-bed hospital in Mississippi to Memorial Well being System for an undisclosed sum, based on a Friday information launch.
- Memorial is anticipated to take possession of Advantage Well being Biloxi hospital operations, medical workplace constructing, clinics and two imaging facilities in the course of the first quarter of subsequent 12 months.
- Executives on the Franklin, Tennessee-based for-profit well being system have mentioned the corporate expects to make at the least $1 billion from hospital gross sales this 12 months.
Diving data:
Memorial Well being and Advantage Well being Biloxi They’ve collaborated earlier than. The well being programs have shared service areas, together with oncology, neurology, neurointerventional radiology, radiology, infectious ailments and cardiology, based on a information launch.
Kent Nicaud, CEO and president of Memorial Well being, touted the acquisition as a win for affected person care within the area.
“By taking full duty, we will present a extra constant expertise for sufferers and make it simpler for them to entry the care they want,” he mentioned.
The deal additionally brings CHS one step nearer to reaching its divestment purpose, which analysts have known as “integral” to the operator's funding story.
CHS has had combined success in closing gross sales this 12 months.
Some offers have come to fruition, together with the August sale of 351-bed Tennova Healthcare-Cleveland to Hamilton Well being Care System for $160 million and final month's sale of two North Carolina-based hospitals to Iredell Well being System for a undisclosed sum.
Nonetheless, in June, CHS's $320 million sale of two hospitals to Novant Well being fell aside amid regulatory scrutiny.
Regardless of some setbacks, President and Chief Monetary Officer Kevin Hammons informed traders throughout an earnings name final month that the supplier was on observe to fulfill its divestiture purpose by the top of the 12 months or in the course of the first quarter of 2025.
“YO I nonetheless really feel excellent… that we’re reaching and having the ability to get them to the purpose,” mentioned the chief.