CHS inks deal to sell stake in Tennessee hospital to VUMC

Group 1 - Community Health Systems (CHS) has agreed to sell its stakes in two joint ventures to Vanderbilt University Medical Center (VUMC) for $600 million, which includes the acquisition of the remaining 80% stake in the joint ventures that operate Tennova Healthcare-Clarksville and other ancillary businesses [7] - The deal will make Tennova Healthcare a part of VUMC's regional medical centers, expanding its presence in Tennessee, where VUMC already operates seven hospitals [3][7] - The transaction is expected to close early next year, pending regulatory approvals and closing conditions [7] Group 2 - VUMC's interest in the hospital is driven by population growth in Clarksville, which has a population of 200,000, making it Tennessee's fifth largest city [3] - CHS has been divesting full or partial stakes in several hospitals this year, including facilities in Florida, Texas, and North Carolina, indicating a strategic shift [5] - CHS's CEO mentioned during a recent investor call that the company has several deals in progress, hinting at ongoing restructuring efforts [4]