In April 2016, Community Health Systems(CYH) spun off Quorum Health Corp(QHC). Quorum borrowed $1.2 billion and paid it as a dividend to Community Health prior to the spinoff, a large sum considering Quorum’s current market cap of $245 million, down precipitously from its debut, but more than double its November lows. Reuters reports that hedge fund Q Investments… Read More »
You may have noticed a lull in our regular programming and for that we apologize. Over the past few weeks, a number of spinoff transactions have closed leading to quite a few shifts within the S&P indices. Here is a summary of the various transactions: Honeywell’s (HON) AdvanSix (ASIX) spinoff was distributed on October 1st and the new company… Read More »
Shortly after writing about Ventas’ (VTR) expanding hospital business (and skilled nursing facility spinoff), Community Health Systems (CYH), one of the largest hospital operators in the country, announced plans to spin off 38 of its hospitals along with its hospital management and consulting arm Quorum Health Resources LLC. The new company will take on the Quorum name, except the… Read More »