FRANKLIN, Tenn.--(BUSINESS WIRE)--May 1, 2017--
Community Health Systems, Inc. (NYSE: CYH) announced today that
subsidiaries of the Company have signed definitive agreements to sell
two Texas hospitals and their associated assets to subsidiaries of HCA
(NYSE: HCA). Hospitals included in the transaction are 350-bed Tomball
Regional Medical Center in Tomball and 67-bed South Texas Regional
Medical Center in Jourdanton.
South Texas Regional Medical Center will be acquired by Methodist
Healthcare System of San Antonio, Ltd., L.L.P, a partnership between HCA
and Methodist Healthcare Ministries.
The transaction is expected to close in the summer of 2017, subject to
customary regulatory approvals and closing conditions.
The two hospitals 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.
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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170501006426/en/
Source: Community Health Systems, Inc.
Community Health Systems, Inc.
Larry Cash, 615-465-7000
President of Financial Services and Chief
Ross W. Comeaux, 615-465-7012
Director – Investor Relations
Senior Vice President, Corporate
Marketing and Public Affairs