KREM Local News
Sold: Deaconess Medical Center & Valley Hospital
12:56 PM PDT on Wednesday, August 20, 2008
SPOKANE -- The state Health Department has approved the sale of two Spokane hospitals to Community Health Systems of Franklin, Tenn.
The not-for-profit Empire Health Services is selling Deaconess Medical Center in downtown Spokane and Valley Hospital and Medical Center in Spokane Valley for $272 million.
Trevor Van Dyke, KREM 2 News
Deaconess Medical Center
They have a total of 511 acute-care beds and treat more than 225,000 patients a year.
The state approval Wednesday came with some conditions. It requires Community Health to set aside $80 million for charitable purposes and to make at least $100 million in capital investments in the hospitals in the next five years.
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