Community Health Systems, Inc. ( CYH - Free Report ) has signed a definitive agreement to sell five Pennsylvania hospitals and their associated assets to the subsidiaries of Reading Health System. Hospitals included in the transaction are the 169-bed Brandywine Hospital in Coatesville, the 148-bed Chestnut Hill Hospital in Philadelphia, the 63-bed Jennersville Hospital in West Grove, the 151-bed Phoenixville Hospital in Phoenixville and the 232-bed Pottstown Memorial Medical Center in Pottstown. The company is burdened with long-term debt and has therefore implemented portfolio rationalization and a deleveraging strategy by divesting hospitals and non-hospital businesses. Generally, these business lines are not in one of the company's strategically beneficial service areas, are less complementary to its business strategy and have lower operating margin.