Community Health Systems Inc. of Franklin, Tennessee, said on Thursday that it will sell its four northwest Arkansas hospitals to its subsidiary for $112 million.CHS’s subsidiary, Freeman Health System of Joplin, Missouri, has signed an agreement to buy the 128-bed Northwest Medical Center-Bentonville, the 222-bed Northwest Medical Center-Springdale, the 64-bed Northwest Medical Center-Willow Creek Women’s Hospital in Johnson, and the 73-bed Siloam Springs Regional Hospital, along with associated outpatient centers and practices, according to a news release from CHS.
The transaction is expected to close in the second quarter, and is subject to regulatory approvals and closing conditions.
Freeman operates four hospitals. The nonprofit system has more than 350 physicians on staff representing more than 90 specialties.
“The agreement marks Freeman’s first expansion into Arkansas and reflects a shared commitment to strengthening access to high-quality care for patients and families across the region,” according to an email from a spokesperson for CHS.
Leerink Partners of Boston is the financial adviser to CHS for the transaction.
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