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February 6, 2014

Pa. hospital agrees to for-profit buyout

Sharon Regional sold to Tennessee conglomerate

SHARON — A western Pennsylvania health system has agreed to be sold to a for-profit Tennessee conglomerate that owns, leases or operates 206 other hospitals in 29 states.

The (Sharon) Herald reports Sharon Regional Health System announced Thursday it has reached a definitive agreement to be sold to Franklin, Tenn.-based Community Health Systems Inc.

The sales price hasn’t been revealed, but the hospital said in a news release that Community Health will invest at least $75 million in the hospital in the next five years.

Sharon Regional has 1,800 workers making it the largest employer in Mercer County, which borders Ohio along Interstate 80. Sharon Regional’s flagship hospital is located about 60 miles northwest of Pittsburgh.

The state attorney general’s office and the county’s Orphan’s Court must still approve the sale.

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