Ten Hospitals, $2.8 Billion, Zero Private Equity: Who Bought the Community Health Systems Divestiture Book
Community Health Systems closed 10 hospital divestitures between January 2023 and June 2026, totaling $2.80 billion in disclosed proceeds. Every named buyer is a nonprofit. Vanderbilt, Duke, Tampa General, Huntsville Hospital, Ascension, AdventHealth, Hamilton Health Care, Freeman Health, and Vandalia Health each picked up a former CHS market in an adjacent service area. Two announced deals (Novant for Lake Norman, WoodBridge for Commonwealth Health) terminated before closing. The narrative that private equity rolls up the distressed for-profit hospital divestiture book does not hold for this cycle.