BRENTWOOD, Tenn.--(BUSINESS WIRE)--Quorum Health Corporation (NYSE: QHC) announced today that subsidiaries of the Company have signed a definitive agreement to sell 56-bed Barrow Regional Medical Center in Winder, Georgia, and its associated assets, to Northeast Georgia Health System, Inc. The divestiture is expected to close December 31, 2016, subject to customary regulatory approvals and closing conditions.
"We have executed our first definitive agreement related to our previously disclosed strategy," said Thomas D. Miller, President and Chief Executive Officer of Quorum Health Corporation. "We expect to announce additional definitive agreements for divestitures, which when consummated, will further contribute to reducing debt and improving financial performance."
About Quorum Health Corporation
Quorum Health Corporation is an operator and manager of general acute care hospitals and outpatient services in the United States. Through its affiliates, the Company owns or leases a diversified portfolio of 38 affiliated hospitals with an aggregate of 3,579 licensed beds. The Company also operates Quorum Health Resources, LLC, a leading hospital management advisory and consulting services business. Quorum Health began trading on the NYSE under ticker symbol “QHC” on May 2, 2016, after completing its spin-off from Community Health Systems, Inc. (NYSE: CYH). More information about Quorum Health Corporation can be found at www.quorumhealth.com.
Statements contained in this news release regarding expected operating results, acquisition transactions or divestitures and other events are forward-looking statements that involve risk and uncertainties. Actual future events or results may differ materially from these statements. Readers are referred to the documents filed by Quorum Health Corporation with the Securities and Exchange Commission, including current reports on Form 8-K and quarterly reports on Form 10-Q. These filings identify important risk factors and other uncertainties that could cause actual results to differ from those contained in the forward-looking statements. The Company undertakes no obligation to revise or update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.