Community Health Systems (CYH) said Tuesday it agreed to sell its 80% stake in Cedar Park Regional Medical Center and related businesses in Cedar Park, Texas, to units of Ascension Health for $460 million in cash.
The deal value is subject to net working capital and other adjustments, the company said.
Ascension, which already holds a minority stake in the medical center, will acquire the remaining interest through the transaction.
The deal is expected to close late in Q2 or early in Q3, the company added.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.