Quorum Health to pay down term loan with hospital divestment proceeds

By Marisa Wong

Morgantown, W.Va., June 7 – Quorum Health Corp. said it will repay the outstanding principal on its term loan facility using proceeds from a divestment.

Quorum plans to divest the 106-bed Watsonville Community Hospital in Watsonville, Calif., to Halsen Healthcare, according to a press release.

The company anticipates proceeds of $35 million to $40 million from the transaction, which is expected to be completed by the end of the third quarter of 2019.

Quorum Health is a Brentwood, Tenn.-based operator and manager of general acute care hospitals and outpatient services.

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