FRANKLIN, Tenn.--(BUSINESS WIRE)--Oct. 11, 2018--
Community Health Systems, Inc. (NYSE: CYH) announced today that
subsidiaries of the Company have signed a definitive agreement to sell
the two-hospital Mary Black Health System and related businesses,
including physician clinic operations and outpatient services, to
Spartanburg Regional Healthcare System in Spartanburg, S.C. The
transaction is expected to close in the fourth quarter of 2018, subject
to customary regulatory approvals and closing conditions.
The 207-bed Mary Black Health System – Spartanburg in Spartanburg, S.C.,
and 125-bed Mary Black Health System – Gaffney in Gaffney, S.C., are
among the additional planned divestitures discussed on the Company’s
second quarter 2018 earnings call.
When the transaction is complete, Community Health Systems affiliates
will continue to operate four hospitals in South Carolina.
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 117
affiliated hospitals in 20 states with an aggregate of approximately
19,000 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181011005930/en/
Source: Community Health Systems, Inc.
Community Health Systems, Inc.
Investor Contacts:
Thomas
J. Aaron, 615-465-7000
Executive Vice President and Chief Financial
Officer
or
Ross W. Comeaux, 615-465-7012
Vice President –
Investor Relations
or
Media Contact:
Tomi Galin,
615-628-6607
Senior Vice President,
Corporate Communications,
Marketing
and Public Affairs
