Community Health Systems Completes Spin-off of Quorum Health Corporation
04/29/16
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Commenting on the spin-off,
Commenting on the launch of QHC,
As a result of the spin-off, QHC owns or leases a portfolio of 38
hospitals with an aggregate of 3,582 licensed beds. The hospitals are
geographically diversified across 16 states, primarily located in cities
or counties having populations of 50,000 or less. QHC also operates
CHS remains one of the largest publicly traded hospital companies in
Under the terms of the spin-off, CHS stockholders who held CHS common
stock as of
Since
In connection with the spin-off, CHS received approximately
About
CHS is one of the largest publicly-traded hospital companies in
CHS’ headquarters are located in
About
QHC is an operator and manager of general acute care hospitals and
outpatient services in
Forward-Looking Statements
Certain statements contained in this communication may constitute
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995. These statements include, but
are not limited to, statements regarding the expected timing of
regular-way trading in QHC’s common stock, the benefits of the spin-off
transaction to either CHS or QHC, the market position of the business
spun off, CHS’ intended use of the net proceeds distributed from QHC,
and transactions and other events and other statements that are not
historical facts. Such statements are based on the views and assumptions
of the management of CHS and QHC and are subject to significant risks
and uncertainties. There can be no assurance that the future events will
occur as anticipated, if at all, or that actual results will be as
expected. Actual future events or results may differ materially from
these statements. Such differences may result from a number of factors,
including but not limited to: possible negative effects on CHS’ or QHC’s
business operations, assets or financial results as a result of the
spin-off; a failure to obtain necessary regulatory approvals; a
deterioration in the business or prospects of CHS or QHC; adverse
developments in CHS’ or QHC’s markets; adverse developments in the U.S.
or global capital markets, credit markets or economies generally; risks
associated with CHS’ and QHC’s indebtedness, leverage and debt service
obligations; CHS’ and QHC’s ability to successfully make acquisitions or
complete divestitures; changes to CHS’ intended use of the net proceeds
distributed from QHC; CHS’ and QHC’s ability to successfully integrate
any acquired hospitals, or to recognize expected synergies from
acquisitions or improved cash flows from divestitures; and changes in
regulatory, social and political conditions. Additional risks and
factors that may affect results are set forth in CHS’ and QHC’s filings
with the
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Source:
Community Health Systems, Inc.
Investors:
W.
Larry Cash, 615-465-7000
President of Financial Services and Chief
Financial Officer
or
Media:
Tomi Galin,
615-628-6607
Senior Vice President, Corporate Communications,
Marketing and Public Affairs
or
Quorum Health Corporation
Investors:
Michael
J. Culotta, 615-221-1400
Executive Vice President and Chief
Financial Officer
or
Media:
Lisa Anderson,
615-221-3793
Vice President, Marketing and Communications