CHS rejects $2.4 billion bid by physician group for Indiana hospitals
Community Health Systems (CHS) has rejected an offer of $2.4 billion to buy out the eight-hospital Lutheran Health Network in Fort Wayne, Indiana.
The offer came from a group of 10 local physicians. According to WANE-TV, CHS said the offer was “at least $1 billion below the fair market value” of the Lutheran network, and criticized how the group pursued the deal, including not specifying which assets it wanted to buy out and not signing a non-disclosure agreement.
“The physicians have failed to satisfy any reasonable criteria of a legitimate offer,” the CHS board of directors said.
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John joined TriMed in 2016, focusing on healthcare policy and regulation. After graduating from Columbia College Chicago, he worked at FM News Chicago and Rivet News Radio, and worked on the state government and politics beat for the Illinois Radio Network. Outside of work, you may find him adding to his never-ending graphic novel collection.