Community Health Systems Inc. agreed to sell one of its hospitals to Rennova Health Inc. for undisclosed terms.
The sale of the Jamestown, Tenn.-based hospital, which has a capacity of 85 beds, is expected to close later this year.
The sale is part of the planned divestitures discussed on the company's third-quarter 2017 earnings call. At the time, Community Health Chairman and CEO Wayne Smith had said the company had already sold 30 hospitals for $1.95 billion — which was mostly used to repay debt — and was looking to pursue sale transaction of hospitals accounting for at least $2 billion of net revenue.
The sales will help the company in reducing its debt.
