PUBLICY TRADED HEALTHCARE SYSTEM SNAPPING UP STRUGGLING HOSPITALS
By John Mugford
Franklin, Tenn.-based Community Health Systems Inc. (NYSE: CYH) recently went on a bit of a buying spree, acquiring two hospital systems: one in Ohio and the other in South Carolina. The purchases expanded the company’s portfolio to more than 125 hospitals and 18,000 beds in 29 states.
In Ohio, the for-profit, publicly traded health system agreed to acquire Youngstown-based Forum Health for $120 million. CHS submitted a bid that was $20 million higher than that of Nashville-based Ardent Health Services. A bankruptcy judge signed off on the acquisition in August.
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