The Florida hospital being sold is the 126-bed Highlands Regional Medical Center in Sebring.
The Mississippi hospitals involved in the deal are the 95-bed Merit Health Gilmore Memorial in Amory, the 112-bed Merit Health Batesville in Batesville and the 181-bed Merit Health Northwest Mississippi in Clarksdale.
The deal is expected to close in the fourth quarter pending regulatory approvals and closing conditions.
Franklin, Tennessee-based Community Health Systems owns, leases or operates 158 hospitals in 22 states. Curae owns three Alabama hospitals and is based in Clinton, Tennessee.