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Subsequent Events
6 Months Ended
Jun. 30, 2023
Subsequent Events [Abstract]  
Subsequent Events

13. SUBSEQUENT EVENTS

 

The Company has evaluated all material events occurring subsequent to the balance sheet date for events requiring disclosure or recognition in the condensed consolidated financial statements.

 

On July 1, 2023, the Company completed the sale of substantially all of the assets of Medical Center of South Arkansas (166 licensed beds) in El Dorado, Arkansas to affiliates of SARH Holdings, Inc. pursuant to a definitive agreement which was entered into on April 3, 2023. The net proceeds from this sale of approximately $18 million were received at a preliminary closing on June 30, 2023.

On July 24, 2023, subsidiaries of the Company entered into a definitive agreement for the sale of Bravera Health Brooksville (120 licensed beds) in Brooksville, Florida, Bravera Health Seven Rivers (128 licensed beds) in Crystal River, Florida, Bravera Health Spring Hill (124 licensed beds) in Spring Hill, Florida, and their associated assets to Florida Health Sciences Center, Inc., and certain of its affiliates.