Community Health Systems Agrees to Sell ShorePoint Health System in Florida

Dow Jones

Nov 23, 2024

By Stephen Nakrosis

Community Health Systems said Friday it agreed to sell ShorePoint Health Port Charlotte in Port Charlotte, Fla., and other assets to subsidiaries of Adventist Health System Sunbelt Healthcare for $265 million in cash.

The sale also includes certain assets of ShorePoint Health Punta Gorda, in Punta Gorda, Fla., and certain ancillary businesses related to the facilities, Community Health said.

Due to the effects of Hurricane Helene and Hurricane Milton, the Punta Gorda hospital has indefinitely suspended inpatient operations, according to Community Health.

The deal is expected to close in the first half of next year.

Community Health said its subsidiaries own or lease 69 affiliated hospitals with more than 11,000 beds and operate more than 1,000 sites of care.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

November 22, 2024 16:50 ET (21:50 GMT)

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