CHS: The Votes Are In…
Earlier this week, as rumors swirled around the Franklin, Tenn.-based hospital operator, we asked our community of Inside Baseball readers: Which do you see as the most likely outcome for Community Health Systems?
Well, the results are in: More than 50 percent of our readers predict the company will sell select groups of its hospitals as it moves forward. Approximately 22 percent envision a potential sale of the entire company, widely predicted in the media, to Apollo Global Management, while another 18 percent foresee some sort of hybrid transaction between a private equity buyer and a REIT.
As an honorable mention, one person guessed, “Tianqaio Chen buys the entire company.” Modern Healthcare reported yesterday that the Chinese billionaire upped his stake in the company once again – buying roughly 1 million more shares – bringing his total interest up to 13.8 percent.
This morning, on the heels of that news, the company said that it has agreed to sell four hospitals – three in Mississippi and one in Florida – as part of an overall debt reduction effort.
For now, CHS’ future remains anyone’s guess. But, along with the rest of you, we’ll keep our eyes peeled for new developments.
More is sure to come. Stay tuned!