The transaction is for 676 licensed beds at facilities in Brownsville, Dyersburg, Jackson, Lexington, Martin, McKenzie and Selmer, TN, including the outpatient and ancillary services associated with each.
CHS currently owns, leases or operates 61 hospitals in 21 states, primarily in non-urban areas. Methodist assembled its West Tennessee group of eight hospitals over the past decade.
It will retain one hospital, Methodist-Fayette in Somerville, TN. This facility's association with the University of Tennessee Health Service Center in Memphis has expanded since the closing of Baptist Medical Center there. This only remaining Methodist facility is expected to play an increasing role with the university.
In a printed statement, Gary S. Shorb, president and chief executive officer of Methodist, says the acquisition "allows Methodist Healthcare to focus our energy and resources to further developing a major academic research hub."
The deal has to be approved the state and the companies' directors.
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