Business
Hospital chain expands
NEWS IN BRIEF — Posted Sept. 8, 2008
Two Washington state nonprofit hospitals are converting to for-profit after their acquisition by a national hospital chain.
Community Health Systems of Franklin, Tenn., which owns about 110 hospitals in 28 states, acquired two Spokane-area hospitals from Empire Health Services for $272 million. The state of Washington's health department in August approved the deal, which involves Deaconess Medical Center in downtown Spokane and Valley Hospital and Medical Center in Spokane Valley.
The state did put conditions on the acquisition. Community Health must set aside $80 million for charitable purposes and make at least $100 million in capital investments in the hospitals in the next five years.
Note: This item originally appeared at http://www.ama-assn.org/amednews/2008/09/08/bibf0908.htm.
