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.
Shares of CHS (Ticker: CYH) were down Friday afternoon to $58.51. Year to date ,they're up 8.5 percent.
Avondale Partners analyst Paula Torch says investors should expect generally good second-quarter numbers from hospital operators in the coming weeks. The recent positive preview from industry leader HCA Holdings was a good tell and should generally translate to other operators. Torch expects LifePoint report earnings per share of $1.01, two cents above analysts’ consensus, on the back of good patient volumes, better cost controls and the upgrading of acquired hospitals. But she’s not as bullish on the prospects of Community Health Systems, which she expects will earn 88 cents per share, a penny less than consensus. But revenues should be strong, she says, helped by easier comparisons to last year’s Q2 and helping to offset spending on doctor recruitment at former HMA hospitals.
TriStar Centennial Medical Center has secured a permit to rehab emergency room space, according to a Metro Codes Department document.
Nashville-based Batten & Shaw is handling the work, with the permit valued at $1.3 million. The permit follows a similar project, valued at more than $4 million, for work on the ER facility at the HCA Holdings flagship facility. Batten & Shaw handled that effort, too.
See the hospital, located at 2400 Patterson St., here courtesy of Google Maps.
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