Quorum Health Corporation, Community Health Systems Agree to Terminate Shared Service Centers Transition Services Agreement
September 23 2019 - 03:30PM
Business Wire
Quorum Health Corporation (NYSE: QHC) and Community Health
Systems, Inc. (“CHS”) today announced that they have reached an
agreement to terminate the companies’ Shared Service Centers
Transition Services Agreement (or “SSC TSA”) that includes business
office services.
The SSC TSA has been in place since Quorum Health’s spin-off in
2016. The companies have agreed to terminate the agreement by
October 1, 2019.
“This represents an important and logical next step for our
company,” said Quorum Health’s CEO Bob Fish. “I’m appreciative of
the hard work and collaboration occurring daily between our team
and CHS to make these transitions as smooth as possible for both
organizations.”
Quorum Health announced earlier this year the selection of R1
RCM to provide end-to-end revenue cycle management services which
will include services previously provided through the SSC TSA.
About Quorum Health Corporation
Quorum Health Corporation is an operator of general acute care
hospitals and outpatient services in the United States. Through its
subsidiaries, the Company owns, leases or operates a diversified
portfolio of 26 affiliated hospitals in rural and mid-sized markets
located across 14 states with an aggregate of 2,458 licensed beds.
The Company also operates Quorum Health Resources, LLC, a leading
hospital management advisory and consulting services business. More
information about Quorum Health Corporation can be found at
www.quorumhealth.com.
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. CHS, through its subsidiaries, owns, leases or operates
103 affiliated hospitals in 18 states with an aggregate of
approximately 17,000 licensed beds. CHS’s headquarters are located
in Franklin, Tennessee, a suburb south of Nashville. Shares in CHS
are traded on the New York Stock Exchange under the symbol “CYH.”
More information about CHS can be found on its website at
www.chs.net.
The terms “QHC,” “Quorum Health,” “the Company,” “we,” “us” or
“our” refer to Quorum Health Corporation or one or more of its
subsidiaries or affiliates as applicable.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190923005773/en/
Investor Contact: Asher Dewhurst Westwicke Partners
QuorumHealth@Westwicke.com / (443) 213-0500
Quorum Health (NYSE:QHC)
Historical Stock Chart
From Feb 2024 to Mar 2024
Quorum Health (NYSE:QHC)
Historical Stock Chart
From Mar 2023 to Mar 2024