FRANKLIN, Tenn.--(BUSINESS WIRE)--Feb. 1, 2016--
Community Health Systems, Inc. (NYSE: CYH) announced today that
subsidiaries of the Company have completed the sale of Lehigh Regional
Medical Center in Lehigh Acres, Florida, along with related outpatient
services, to subsidiaries of Prime Healthcare Services, Inc. The
effective date of the transaction is February 1, 2016.
With the divestiture of Lehigh Regional Medical Center, Community Health
Systems affiliates continue to operate 25 hospitals in Florida. The
Company does not expect the transaction to have a meaningful impact on
financial operations.
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. Through
its subsidiaries, the Company currently owns, leases or operates 195
affiliated hospitals in 29 states with an aggregate of approximately
30,000 licensed beds.
The Company has announced plans for a spin-off transaction to create a
new, publicly-traded company, Quorum Health Corporation, with 38
affiliated hospitals and related outpatient services in 16 states,
together with Quorum Health Resources, LLC, a subsidiary providing
management advisory and consulting services to non-affiliated hospitals.
The transaction is expected to close during the first half of 2016.
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 expected operating
results, acquisition transactions or divestitures 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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Source: Community Health Systems, Inc.
Community Health Systems, Inc.
Investor Contact:
W.
Larry Cash, 615-465-7000
President of Financial Services and Chief
Financial Officer
or
Media Contact:
Tomi Galin,
615-628-6607
Senior Vice President, Corporate Communications,
Marketing and Public Affairs