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Stock impact report

Ascension to buy out CHS' stake in Texas hospital for $460M [Yahoo! Finance]

Community Health Systems, Inc. (CYH) 
Last community health systems, inc. earnings: 4/28 04:15 pm Check Earnings Report
US:NYSE Investor Relations: chs.net/investor-relations
Company Research Source: Yahoo! Finance
Ascension Health has inked a definitive agreement to acquire full ownership of a Texas hospital and its ancillary businesses from Community Health Systems for $460 million, the health system said Tuesday. Ascension Seton, a subsidiary of Ascension Texas, will purchase the remaining 80% stake in 126-bed Cedar Park Regional Medical Center. Although the system already owned a minority interest in Cedar Park, Ascension said acquiring full ownership would represent a “significant step” toward expanding medical services and care access in the Central Texas community. The deal is expected to close this summer, subject to regulatory approvals. CHS said its plan to sell Cedar Park Regional Medical Center has been in the works since at least the fourth quarter of 2024 . CEO Tim Hingtgen alluded to the deal during the fourth quarter earnings call, saying the provider was in “discussions” that were likely to result in further hospital sales and generate “meaningful proceeds” for the health Show less Read more
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