Quorum Health Corporation Completes Divestiture of a Hospital in California

Date : 10/01/2019 @ 12:00PM
Source : Business Wire
Stock : Quorum Health Corporation (QHC)
Quote : 1.25  0.0613 (5.16%) @ 12:59AM
Quorum Health share price Chart

Quorum Health Corporation Completes Divestiture of a Hospital in California

Quorum Health (NYSE:QHC)
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1 Month : From Sep 2019 to Oct 2019

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Quorum Health Corporation (NYSE: QHC) today announced that it has completed the sale of the 106-bed Watsonville Community Hospital in Watsonville, California to Halsen Healthcare.

Total cash proceeds from the transaction were approximately $39 million and will be used to repay outstanding principal on the Company’s Term Loan Facility.

Cain Brothers, a division of KeyBanc Capital Markets, acted as financial advisor to the Company on this transaction.

About Quorum Health Corporation

Quorum Health Corporation is an operator of general acute care hospitals and outpatient services in the United States. Through its subsidiaries, the Company owns, leases or operates a diversified portfolio of 24 affiliated hospitals in rural and mid-sized markets located across 14 states with an aggregate of 2,144 licensed beds. The Company also operates Quorum Health Resources, LLC, a leading hospital management advisory and consulting services business. More information about Quorum Health Corporation can be found at www.quorumhealth.com.

Forward-Looking Statements

Statements contained in this news release regarding expected use of proceeds 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 the Company’s annual report on Form 10-K, 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.

The terms “QHC,” “Quorum Health,” “the Company,” “we,” “us” or “our” refer to Quorum Health Corporation or one or more of its subsidiaries or affiliates as applicable.

Investor Contact: Asher Dewhurst Westwicke Partners QuorumHealth@Westwicke.com / (443) 213-0500

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