Community Health Systems has reached an agreement to sell its 80% ownership interest in Cedar Park Regional Medical Center in Texas to Ascension Health for $460 million in cash, pending customary adjustments.

The Franklin, Tennessee-based company said the deal also includes certain ancillary businesses in Cedar Park. Ascension Health already holds a minority stake in the facility and will take full ownership through the transaction.

The sale is expected to close in late Q2 or early Q3 of 2025, subject to regulatory approval and closing conditions. It is part of a broader set of divestitures the company has discussed in recent earnings calls and public appearances.
Community Health Systems operates 72 hospitals and more than 1,000 care sites across 14 states.

In March, the health system completed the sale of ShorePoint Health – Port Charlotte, certain assets of ShorePoint Health – Punta Gorda, and related businesses to Adventist Health System Sunbelt Healthcare Corporation (AdventHealth) for $260 million.

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