CHS Sells 3 FL Hospitals to Tampa General for $280M

The deal is expected to close this year, pending regulatory approvals and closing conditions.

Community Health Systems, Inc. said Monday it is selling its three Bravera Health affiliates in Florida to Tampa General Hospital for "a cash consideration of $280 million."

The three hospitals are the 120-bed Bravera Health Brooksville in Brooksville, 128-bed Bravera Health Seven Rivers in Crystal River, and 124-bed Bravera Health Spring Hill.

The deal is expected to close this year, pending regulatory approvals and closing conditions.

The divestiture of the hospitals was previously announced as a potential deal by CHS in its Q1 earnings call, when it also reported a $51 million net loss on revenue of $3.1 billion.

The three not-for-profit hospitals are in Citrus and Hernando counties, neighboring Tampa / Hillsborough County, and combined provided care for more than 300,00 patients last year.

John Couris, president and CEO of not-for-profit, private Florida Health Sciences Center, DBA Tampa General, says that "with this acquisition, TGH is not only expanding its geographic footprint to meet the needs of our state’s growing population, but TGH is also increasing access for Floridians to the world-class rare and complex specialized care we offer."

The sale leaves Franklin, TN-based CHS with seven hospitals in Florida. The for-profit hospital chain has shed more than 100 community hospitals since 2015 after a string of financial losses and now owns or leases 77 hospitals in 15 states, with more than 1,000 care venues.

"Tampa General Hospital is a well-respected healthcare system with a demonstrated commitment to delivering quality care to the patients they serve across the communities they serve," Bravera Health Seven Rivers CEO Linda Stockton says. "Our tradition of delivering medical services close to home will continue thanks to the dedication and skill of our medical staff and employees."