Halsen Healthcare, LLC entered into a definitive agreement to acquire Watsonville Hospital Corporation from Quorum Health Corporation (NYSE:QHC) for $40 million on May 31, 2019. Quorum anticipates that the total cash proceeds from the transaction will be approximately $35 to $40 million, subject to final working capital balances. The transaction is subject to customary approvals and conditions. All employees at the time the transaction closes will continue employment with Watsonville Community Hospital. The transaction is expected to be complete by the end of the third quarter of 2019. All cash proceeds from the transaction will be used to repay outstanding principal on Quorum's Term Loan Facility. Cain Brothers & Company, LLC acted as financial advisor to Quorum. Ben Herbert of KeyBanc Capital Markets Inc. acted as financial advisor to Quorum Health Corporation.