Dive Transient:
- Neighborhood Well being Techniques has inked a deal to promote its stakes in two joint ventures to Vanderbilt College Medical Heart for $600 million, in response to a Thursday information launch.
- Beneath the deal, VUMC will purchase the remaining 80% stake within the joint ventures, which personal and function 270-bed Tennova Healthcare-Clarksville in Tennessee and different ancillary companies. Vanderbilt at present owns a 20% stake within the three way partnership.
- The deal is predicted to shut early subsequent yr, topic to regulatory approvals and shutting situations, the businesses mentioned.
Dive Perception:
Ought to the deal be accepted, Tennova Healthcare will develop into VUMC’s fourth regional medical middle, becoming a member of Wilson County Hospital, Tullahoma-Harton Hospital and Bedford Hospital — all primarily based in Tennessee. Vanderbilt operates seven hospitals.
VUMC was within the hospital partially on account of inhabitants development in Clarksville, in response to the information launch. Town has a inhabitants of 200,000 and is Tennessee’s fifth largest metropolis.
The well being system says it plans to rent all Tennova Healthcare-Clarksville workers who’re in good standing as soon as the deal is finalized.
CHS foreshadowed the divestiture in the course of the firm’s third quarter final week. On a name with traders, CEO Kevin Hammons mentioned the hospital operator had a number of offers within the works.
CHS has divested full or partial stakes in a number of hospitals this yr, together with its Florida-based ShorePoint Well being System, Cedar Park Regional Medical Heart in Texas and Lake Norman Regional Medical Heart in North Carolina.
CHS introduced plans to promote a further three hospitals in Pennsylvania to Tenor Well being Basis this month.
