Sunnyside Community Hospital Buying Yakima Regional Medical & Cardiac Center and Toppenish Community Hospital
Sunnyside Community Hospital & Clinics has signed an agreement to buy Yakima Regional Medical & Cardiac Center and Toppenish Community Hospital from Tennessee-based Community Health Systems Inc. for about $45 million.
The two companies announced the deal in separate news releases Tuesday.The sale will improve the quality of and access to local health care, according to Sunnyside Community officials.
“We view this acquisition as a continued investment in the health care of the entire Yakima Valley and believe it will increase quality of care while keeping our health care dollars local," Sunnyside Community's chief executive officer, John Gallagher, said in the news release. "This fits well with our vision to be the region’s comprehensive health care provider of choice.”
Sunnyside's release added that the deal won't cost any jobs at the Yakima or Toppenish hospitals, and that current physician privileges will continue.
The two companies expect to complete the transaction during the second quarter of 2017. Community Health Systems plans to use proceeds from the sale to pay down its debt.
“The Yakima and Toppenish hospitals are valued community resources that will benefit from alignment with another regional provider," Community Health Systems' chairman and chief executive officer, Wayne T. Smith, said in his company's release. "We are making progress with our strategic objective to divest a number of properties to focus on a more sustainable portfolio of hospitals and networks for the future.”
Yakima Regional has 214 beds and Toppenish Community Hospital has 63.