At the moment, CHS owns 112 hospitals, having sold three already in 2019 and having entered agreements to sell four others, according to its earnings release. Franklin, Tenn.-based Community Health Systems has been busy selling, spinning-off and closing hospitals over the past four years.CHS is near the end of its hospital sell-off spree, according to the company's Shrinking its hospital portfolio has helped CHS reduce its debt load. CHS - Community Health Systems Inc. published this content on 30 August 2019 and is solely responsible for the information contained therein. The terms "CHS" or the "Company" as used in this website refer to Community Health Systems, Inc. and its affiliates, unless otherwise stated or indicated by context. US divestitures Q1 2020 and 2019 year in review. 3 Speen Street, Suite 300, Framingham, MA 01701 (Getty/turk_stock_photographer)Please join this webinar to learn how health plans can streamline member engagement and prioritize cross-departmental goals by leveraging CX technology.Subscribe to FierceHealthcare to get industry news and updates delivered to your inbox.Community Health Systems narrows Q3 losses to $17M, reports continued admissions drops© 2020 Questex LLC. Interested in linking to or reprinting our content? "Continued execution of our transfer program, Accountable Care Organizations, capital investments, and strategic plans have driven these improved results. "CHS has been selling off hospitals to stem losses, announcing this week it The company reported its net cash for operations was in the red by $74 million compared to positive net cash of $346 million in the same period last year.
We believe these investments, along with recent divestitures and ongoing operating efficiency initiatives, have positioned the Company for continued improved performance. In the third quarter of 2019, the company reported a net loss of $17 million, which was significantly less than the $325 million loss experienced at the same time last year. Find out why CEO Varsha Rao believes telehealth will not go back to pre-COVID-19 levels.Providers are hoping for another executive order from President Trump to give more relief from COVID-19 as talks in Congress have faltered.Enclose phrases in quotes. August 21, 2019 Share Prices Plummet Following Divestitures in 2019 Almost two-thirds of companies are seeing their stock prices underperform industry benchmarks, with the average underperformance at 7%. exclude terms.Community Health Systems reported its net cash for operations was in the red by $74 million compared to positive net cash of $346 million in the same period last year. The company's net debt has shrunk by $1.6 billion since Dec. 31, 2016, according to the presentation at the J.P. Morgan Healthcare Conference.Copyright © 2020 Becker's Healthcare. US divestitures quarterly … "We expect a good finish to this year and believe we are well-positioned to deliver a strong performance in 2020,” Smith said.A new study found reprocessing N95 masks once didn't lead to the masks becoming less effective at protecting healthcare workers from COVID-19.Nurx raised an additional $22.5 million in funding in May. While companies for years have generally underperformed stock markets after divesting significant assets, that tendency was severely pronounced in the first six … Admissions on a same-store basis, however, increased by 2.4%, and adjusted admissions increased 3.6% compared to last year's third quarter.For the nine months ended Sept. 30, the health system has seen an 11.4% decrease in admissions and an 11.2% decrease in adjusted admissions compared with the same period in 2018. The company carried $13.88 billion in long-term debt when it announced its divestiture plan at the end of 2017.
Divestitures are part of Community Health System’s financial turnaround plan, which seems to be paying off. View our policies by Our quarterly update focuses on news and trends in the following areas: US divestiture volume, value, and reported multiples; US divestitures by buyer type; US divestitures by industry; Cross-border activity; In 2019, US divestiture activity continued the trends unfolding over the last few years.