Community Health (CYH) Systems announced that subsidiaries of the company have entered into a definitive agreement to sell their collective 80% ownership interest in Cedar Park Regional Medical Center and certain ancillary businesses located in Cedar Park, Texas, to subsidiaries of Ascension Health for $460M in cash, subject to certain net working capital and other adjustments. Ascension Health currently holds a minority ownership interest in Cedar Park Regional Medical Center and will purchase the remaining interest through this transaction. The transaction is expected to close late in the second quarter or early in the third quarter of 2025, subject to regulatory approvals and closing conditions. This transaction is among the additional potential divestitures discussed on the company’s fourth quarter and end of year 2024 earnings call and in subsequent public appearances.
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