Community Health Systems has sold Payson Regional Medical Center in Arizona to Banner Health.
Terms of the sale of the 44-bed hospital were not disclosed. Banner Health is a Phoenix-based nonprofit health system with 23 hospitals in six states. Following the deal, CHS will continue to operate three hospitals in Arizona.
Separately, The Ledger-Enquirer in Columbus, Georgia, reports that CHS execs have ended their talks with officials from the 376-bed St. Francis Hospital there. A buyout would have grown CHS' hospital network in Georgia to six.
Shares of CHS (Ticker: CYH) were down Friday afternoon to $58.51. Year to date, they're up 8.5 percent.
Silicon Ranch Corp. has signed a deal with a Georgia green-energy cooperative to sell the entire output of its largest-ever project, a 52-megawatt solar array west of Savannah. The agreement with Green Power EMC, which supplies renewable energy to 38 utilities in Georgia, will cover 600 acres and service about 8,500 households. Silicon Ranch and Green Power EMC also are finalizing work on a 20-megawatt complex that will come online this fall.
Once completed, the 52 MW array will generate more than 134 million kilowatt hours of clean, renewable electricity annually. That amount of clean energy offsets 92,500 metric tons of greenhouse gas emissions, equivalent to the annual emissions from burning 10,400,000 gallons of gasoline, or put another way, the emissions from more than 19,500 passenger cars.
Read more about the project here.
Community Health Systems is in talks to buy a struggling Georgia hospital, according to The Ledger-Enquirer.
The Franklin company could fully or partially acquire the 376-bed hospital, which recently completed a $150 million expansion and disclosed an accounting error of nearly $30 million. The Ledger-Enquirer reports the Columbus hospital then began looking for a strategic partner.
St. Francis Hospital said Thursday it has begun 'exclusive discussions' with a subsidiary of Franklin, Tenn.-based Community Health Systems, with an agreement of some sort between the two expected in the 'near future.'
CHS currently operates five hospitals in Georgia. Shares of the company (Ticker: CYH) were down to $52.81 around noon Friday. Year to date, they're down 2 percent.
Nashville-based mattress manufacturer Southerland has acquired the assets of a Rome, Georgia, company at a foreclosure sale. Spears Mattress was put on the block after being foreclosed on in September. The Rome News-Tribune reports that Southerland executives have told Spears customers they will continue to produce Englander-branded mattresses — but do so from Nashville.
The regional airport serving Athens, Georgia, is losing its federal air service subsidy, which suggests the SeaPort Airlines flights between there and Nashville International Airport will end soon. The $1.6 million in federal aid had been in place since the fall of 2012.
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