FRANKLIN, Tenn.--(BUSINESS WIRE)--Mar. 1, 2019--
Community Health Systems, Inc. (NYSE: CYH) announced today that
subsidiaries of the Company have completed the sale of four South
Carolina hospitals – 82-bed Chester Regional Medical Center in Chester,
225-bed Springs Memorial Hospital in Lancaster, 396-bed Carolinas
Hospital System in Florence, and 124-bed Carolinas Hospital System –
Marion in Mullins – along with related businesses, including physician
clinic operations and outpatient services, to the Medical University
Hospital Authority in Charleston, S.C. As part of the transaction,
Medical University Hospital Authority assumed the long-term lease and
operations of Chester Regional Medical Center. The effective date of the
transaction is March 1, 2019.
The four hospitals are among the additional planned divestitures
discussed on the Company’s fourth quarter 2018 earnings call.
Kaufman, Hall & Associates, LLC acted as the exclusive financial advisor
to the Medical University Hospital Authority on this transaction.
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 106 affiliated hospitals in 18
states with an aggregate of approximately 17,000 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/20190301005421/en/
Source: 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
Media Contact:
Tomi Galin, 615-628-6607
Senior Vice
President, Corporate Communications, Marketing and Public Affairs
