Franklin, Tenn.-based CHS, which reported a Q1 net loss of $20 million on revenues of $3.1 billion, is on the hunt for new acquisitions just as it is also in discussions to sell off more assets, Becker’s reports.
“We are considering further opportunities to expand our portfolio,” CEO Tim Hingtgen said in a webcast discussing first-quarter results. Shares plunged on news of the net loss.
Selling off certain assets would also help balance the system and further reduce some of its debt, President and CFO Kevin Hammons confirmed on the call.
The health system, which operates 79 hospitals in 15 states, has agreed to sell four more hospitals effective Jan. 1. Read more.
