Community Health Systems Sells Nine Hospitals to Capella Healthcare

OPEN MINDS On-Line News On February 29, 2008, Community Health Systems announced the sale of nine hospitals to Capella Healthcare (Capella). The hospitals were purchased collectively for $315 million. Funding for the purchase came from a combination of capital from Capella’s partner, GTCR Golder Rauner, and debt financing led by Citigroup Global Markets Inc., Banc of America Securities LLC, and GE Capital Markets. The sale includes hospitals in Alabama, Arkansas, Missouri, Oregon, and Tennessee and have 1,070 beds and nearly 4,000 employees combined. With this acquisition, all hospital employees are expected to remain with their respective . . .