Two of Nashville's publicly traded companies have announced changes.

Brookdale Senior Living has entered into an agreement with a third party to sell 44 communities for an aggregate sales price of $252.5 million. The 12-state portfolio comprises 2,453 units, including 1,874 assisted living units and 579 memory care units. The portfolio communities' revenue for the twelve months ended March 31, 2016 was approximately $89 million, and the portfolio's average occupancy for the first quarter of 2016 was 79 percent.

Andy Smith, Brookdale's president and CEO, said, "We are pleased to continue our portfolio rationalization initiative to simplify our business model and divest communities that do not fit with our strategy. This single transaction divests a diverse group of communities spread across 12 states and minimizes any operational disruption. We expect to use the proceeds of the transaction to primarily repay debt in another step towards deleveraging the balance sheet."

After completing a strategic assessment that began in October 2015, the leadership at Healthways has decided to divest its largest business group. In an announcement, the company said:

"As a result of the assessment, Healthways has signed a definitive agreement to sell its Total Population Health Services (TPHS) business to Sharecare, Inc., the Atlanta-based digital health company helping people manage all their healthcare in one place. The sale also includes Healthways’ two Emerging Solutions businesses, Blue Zones Project by Healthways™ and Dr. Ornish’s Program for Reversing Heart Disease®." Following the transaction, which is expected to close by July 31, 2016, the company will be left with its Network Solutions business, which includes Silver Sneakers® Fitness, Prime® Fitness and Physical Medicine. 

In the official announcement, officials said the company expects to complete a restructuring of its corporate support infrastructure by the end of 2016 to appropriately support the focus on its Network Solutions business. Following the close of the transaction with Sharecare and the corporate restructuring, the company expects to end 2016 with annualized revenue greater than $500 million, EBITDA margins in excess of 20 percent and an organic growth rate in at least the upper-single digit range, consistent with the past several years for this business.

As part of the deal, CEO Donato Tramuto will join Sharecare's board of directors. TPHS president Sean Slovenski will join Sharecare as president of its population health business, and Healthways’ CFO Alfred Lumsdaine will join the Sharecare team as COO/CFO of its population health business 60 days after the close of the transaction.

Jeff Arnold, Sharecare founder, CEO and chairman of its board of directors, said, “Our relationship with Healthways is about more than just an acquisition - it’s about forming a strategic relationship with a shared goal to provide people, whether patient, employee or member, with the personalized resources they need to help them live their healthiest lives. The combination of Healthways’ impressive roster of employer and payor contracts and proven ability to drive improved outcomes, and Sharecare’s strong track record of digital innovation and ability to seamlessly integrate legacy technologies into our engagement platform gets us closer than ever to delivering employers and payors with a truly comprehensive, fully integrated health engagement solution.”