WYOMING, Mich. — Franklin, Tenn.-based Community Health Systems Inc. (NYSE: CYH) said Friday that its subsidiaries have an agreement to buy 80 percent of the equity of Wyoming-based Metro Health.
The agreement includes 208-bed Metro Health Hospital, outpatient centers, and related assets and businesses.
Terms of the deal were not immediately disclosed.
The transaction is subject to regulatory reviews, including approval by the Michigan Office of the Attorney General and certificate of need review by the Michigan Department of Community Health.
“Metro Health provides an opportunity for our company to expand into Michigan and add the state’s fastest growing market to our organization,” said Community Health Systems chairman, president and CEO Wayne T. Smith. “This health system has served Western Michigan for many years, and we look forward to supporting Metro Health’s medical staff and employees in their ongoing work to provide quality care.”
Community Health Systems and its subsidiaries own, lease or operate 206 hospitals in 29 states with an aggregate of approximately 31,100 beds.
More at www.chs.net.