Community Health Systems Completes Divestiture of Eight Hospitals to Steward Health
May 01 2017 - 3:20PM
Business Wire
Community Health Systems, Inc. (NYSE:CYH) announced today that
subsidiaries of the Company have completed the sale of their
ownership interest in eight hospitals and their associated assets
to subsidiaries of Steward Health Care LLC. Facilities included in
the transaction are 119-bed Wuesthoff Health System-Melbourne in
Melbourne, Fla.; 298-bed Wuesthoff Health System-Rockledge in
Rockledge, Fla.; 154-bed Sebastian River Medical Center in
Sebastian, Fla.; ValleyCare Health System of Ohio, with 355-bed
Northside Medical Center in Youngstown, 311-bed Trumbull Memorial
Hospital and 69-bed Hillside Rehabilitation Hospital in Warren;
258-bed Sharon Regional Health System in Sharon, Pa. and 196-bed
Easton Hospital in Easton, Pa. The effective date of the
transaction is May 1, 2017. With the divestitures completed,
Community Health Systems affiliates continue to operate 21
hospitals in Florida and 15 hospitals in Pennsylvania.
The eight hospitals included in this transaction are part of the
planned hospital divestitures previously discussed. The Company
will provide an update on its divestiture activity on its first
quarter 2017 earnings call scheduled to begin at 11:00 a.m.
Central time, 12:00 p.m. Eastern time, on Tuesday, May 2, 2017.
About Community Health Systems, Inc.
Community Health Systems, Inc. is one of the largest publicly
traded hospital companies in the United States and a leading
operator of general acute care hospitals in communities across the
country. The Company, through its subsidiaries, owns, leases or
operates 146 affiliated hospitals in 21 states with an aggregate of
approximately 24,000 licensed beds. The Company’s headquarters are
located in Franklin, Tennessee, a suburb south of Nashville. Shares
in Community Health Systems, Inc. are traded on the New York Stock
Exchange under the symbol “CYH.” More information about the Company
can be found on its website at www.chs.net.
Forward-Looking Statements
Statements contained in this news release regarding potential
transactions, operating results, and other events are
forward-looking statements that involve risk and uncertainties.
Actual future events or results may differ materially from these
statements. Readers are referred to the documents filed
by Community Health Systems, Inc. with
the Securities and Exchange Commission, including the
Company’s annual report on Form 10-K, current reports on Form 8-K
and quarterly reports on Form 10-Q. These filings identify
important risk factors and other uncertainties that could cause
actual results to differ from those contained in the
forward-looking statements. The Company undertakes no obligation to
revise or update any forward-looking statements, or to make any
other forward-looking statements, whether as a result of new
information, future events or otherwise.
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version on businesswire.com: http://www.businesswire.com/news/home/20170501006243/en/
Community Health Systems, Inc.Investor Contacts:W. Larry
Cash, 615-465-7000President of Financial Services and Chief
Financial OfficerorRoss W. Comeaux, 615-465-7012Senior Director –
Investor RelationsorMedia Contact:Tomi Galin,
615-628-6607Senior Vice President, CorporateCommunications,
Marketing and Public Affairs
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