Quorum Health Corporation Announces 2016 Financial Outlook
03/22/16
As previously disclosed, on
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 projections of net operating
revenues, Adjusted EBITDA, the expected timing of the completion of the
spin-off transaction, the benefits of the spin-off transaction to either
CHS or QHC, the tax-free treatment of the spin-off transaction, the
anticipated management of QHC, the market position of QHC and
transactions and other events and other statements that are not
historical facts. Such statements are based on the views and assumptions
of QHC and are subject to significant risks and uncertainties. There can
be no assurance that the proposed transaction or other 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: the timing and completion of the proposed
transaction; a failure to obtain necessary regulatory approvals; a
failure to obtain assurances of anticipated tax treatment; 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; the
risk that the benefits of the proposed transaction may not be fully
realized or may take longer to realize than expected; the impact of the
proposed transaction on CHS’ or QHC’s third-party relationships; risks
associated with QHC’s substantial indebtedness, leverage and debt
service obligations; QHC’s ability to successfully make acquisitions or
complete divestitures; QHC’s ability to successfully integrate any
acquired hospitals, or to recognize expected synergies from
acquisitions; 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
Non-GAAP Financial Measures
Adjusted EBITDA, a non-GAAP financial measure, is EBITDA (net income
attributable to
Adjusted EBITDA is not a measurement of financial performance or liquidity under generally accepted accounting principles. It should not be considered in isolation or as a substitute for net income, operating income, cash flows from operating, investing or financing activities, or any other measure calculated in accordance with generally accepted accounting principles. The items excluded from Adjusted EBITDA are significant components in understanding and evaluating financial performance and liquidity. Our calculation of Adjusted EBITDA may not be comparable to similarly titled measures reported by other companies.
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Source:
Quorum Health Corporation
Michael J. Culotta, 615-465-7000
Chief
Financial Officer