Apollo Global Management LLC (NYSE: APO)’s
2016 shopping spree is reportedly still going strong. On Monday, Reuters reported that Apollo is in talks to
acquire assets from struggling hospital operator Community Health Systems (NYSE: CYH). Community Health Systems currently has a market cap of $1.3 billion and a
staggering debt load of $15 billion.
Apollo is looking to shore up its RegionalCare Hospital Partners Inc portfolio by adding assets for the second time this year.
Apollo doubled the size of RegionalCare in May when it acquired Capella Healthcare Inc.
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Hospitals aren’t the only thing Apollo has been buying this year. Community Health Systems would mark the seventh public company
that Apollo has acquired in 2016. The firm has also purchased ADT Corp (previously traded NYSE: ADT), The
Fresh Market Inc(previously traded NASDAQ: TFM), Apollo Education Group Inc (NASDAQ: APOL), Diamond Resorts International Inc (previously traded
NYSE: DRII), Outerwall Inc (NASDAQ: OUTR)
and Rackspace Hosting, Inc. (NYSE: RAX).
At the time Apollo closed the deal for Coinstar and Redbox operator Outerwall back in July, no other company had acquired more
than two public companies in 2016.
The market is loving Apollo’s aggressive M&A strategy. So far this year, Apollo’s stock is up 18.1 percent.
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