Youngstown, Warren, Howland and Sharon hospitals sold by CHS to Boston health care outfit
YOUNGSTOWN — Community Health Systems Inc. has sold ValleyCare Health System of Ohio and Sharon Regional Health System to Steward Health Care LLC of Boston.
The company announced the sale today.
CHS, based in Tennessee, will sell eight hospitals and their associated assets to subsidiaries of Steward Health Care. Facilities in the transaction are ValleyCare Health System of Ohio, with 355-bed Northside Medical Center in Youngstown; 311-bed Trumbull Memorial Hospital in Warren; 69-bed Hillside Rehabilitation Hospital in Howland; 258-bed Sharon Regional Health System in Sharon, Pa.; 254-bed Easton Hospital in Easton, Pa.; 119-bed Wuesthoff Health System-Melbourne in Melbourne, Fla.; 298-bed Wuesthoff Health System-Rockledge in Rockledge, Fla.; and 154-bed Sebastian River Medical Center in Sebastian, Fla.;
The transaction is expected to close in the second quarter this year, subject to customary regulatory approvals and closing conditions. CHS will apply proceeds of the transaction to pay down debt.