CHS sells more hospitals, looks to outpatient growth

Community Health Systems has sold four hospitals since New Year's Eve to cap a multi-year divestiture plan that has concentrated its portfolio in growing Sunbelt states and set up executives to focus on expanding outpatient services to drive admissions. 

In the past six years, the Franklin-based hospital operator has shrunk its network from 206 hospitals in 29 states to 85 hospitals in 16 states. Its 2020 transactions netted about $868 million in proceeds, which the company has been using to pay down its debt.