US hospital giant to sell home health division

Tue, 18 Oct 2016 | DIVISION SALE

US hospital group Community Health Systems (CHS) is to sell a majority stake in its home health division as it looks to shore itself up financially.

CHS said in a statement it will sell 80 per cent of CHS Home Health to Louisville-based Almost Family for $128 million (£105 million).

Tennessee-based CHS owns and operates hundreds of hospitals across the US. Its home health unit operates 74 home health and 15 hospice locations in 22 states. Almost Family said it expected to generate an additional $200 million (£164 million) in annual revenues as a result of its acquisition.

The division sale is part of a CHS strategy to streamline its portfolio and pay down debt after accumulating $15 billion (£12 billion) of debt over recent years. In September, CHS confirmed it was in preliminary discussions over its options, possibly including a sale of the company, and has already sold three hospitals in Mississippi and one in Florida.

The firm's chairman and chief executive officer, Wayne Smith, said: "We believe the agencies in the company’s Home Health division will benefit from affiliation with an organisation specialising in home health care.

"The transaction also advances our strategy to focus on a more sustainable and successful portfolio of hospitals and regional healthcare systems."

The CHS-Almost Family deal is set to complete in the fourth quarter of the year.

We have lots of resources for businesses looking to turn around their fortunes here.


Share this article



Latest Businesses for Sale

Range of Boxed & Ex-Display Lighting & Accessories (Fast Sale)
UK Wide

Closing From 10am Monday 25 March 2019. Subscribe for more information and seller contact details.

Asking Price: Offers Invited
Turnover: £500k - £1m

Newsagents & Card Shop
Royton, Oldham, Manchester, UK Wide

Shopping precinct trading location. Spacious premises. Parking to rear. Mainly managed by staff. Offers invited.

Asking Price: £79,950
Turnover: £480,000

LEASEHOLD


Garage & MOT Station
Aughton, Sheffield, South Yorkshire, Yorkshire and the Humber, UK

Established Since 1990. Automated MOT Test Station completed with reliable and experienced staff. This is a retirement sale. Offers invited.

Asking Price: £359,950
Turnover: £358,198

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
18
 
Mar
 

Buyer sought for Leeds pub group | ADMINISTRATION

Administrators for pub group headquartered in Leeds are on t...

 
17
 
Mar
 

Tavistock places two North East pubs for sale | BUSINESS SALE

The Lambton Worm and The New Plough pubs in County Durham ha...

 
16
 
Mar
 

Construction mogul Dawnus braces itself for administration | ADMINISTRATION

Dawnus Construction, the property development giant based in...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources