Owner Of Phoenixville Hospital Might Make A Deal

The for-profit medical business which owns Phoenixville Hospital is in "preliminary discussions" to sell the company, they announced in a statement this week.

Community Health Systems, based in Franklin, Tennessee, is also the owner of several other local health care facilities including Pottstown Memorial Medical Center, Brandywine Hospital, Jennersville Regional Hospital in West Grove, and Chestnut Hill Hospital.

In their statement, Community Health did not provide any specifics regarding a potential sale and was noncommittal regarding a timeline or even the likelihood that a deal would be finalized.

"The discussions are at a very preliminary stage and there is no timeline established for this review. There can be no certainty that the exploration will result in any kind of transaction," Community Health said in the statement. "The Company does not expect to make further public comment regarding these matters while the exploration process takes place."

According to Bloomberg, the company is in financial trouble and has a lot of long term debt.

Community Health has 158 hospitals in 22 states, with a total of nearly 27,000 licensed beds, according to information provided by the company.

“Community Health Systems’ primary focus continues to be on delivering high-quality health services in the communities where we operate,” said Wayne T. Smith, chairman and chief executive officer. “Our management team is completely committed to efforts that advance clinical excellence, operational and financial performance and growth strategies that will benefit our organization and the customers we serve.”

Phoenixville Hospital was bought by Community Health in 2004.

Patch file photo.