FRANKLIN, Tenn.--(BUSINESS WIRE)--Feb. 5, 2014--
Community Health Systems, Inc. (NYSE: CYH) announced today that
subsidiaries of the Company have executed a definitive agreement to
acquire substantially all of the assets of Sharon Regional Health System
in Sharon, Pennsylvania. Today’s announcement follows approximately nine
months of discussions and due diligence between the parties. The health
system includes a 251-bed acute care hospital, outpatient centers and
affiliated physician practices. The transaction is subject to customary
federal and state regulatory approvals, including review and approval by
the Attorney General of the Commonwealth of Pennsylvania.
Commenting on today’s announcement, Wayne T. Smith, chairman and chief
executive officer of Community Health Systems, Inc., said, “This
acquisition supports our strategic effort to develop networks of
hospitals and healthcare services in regions where we currently operate.
We are excited about the opportunity to support Sharon Regional’s
medical staff and employees in their mission to provide quality care for
patients.”
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 206
affiliated hospitals in 29 states with an aggregate of approximately
31,000 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 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.
Source: Community Health Systems, Inc.
Community Health Systems, Inc.
Investor Relations:
W. Larry
Cash, 615-465-7000
President of Financial Services and Chief
Financial Officer
or
Media Relations:
Tomi Galin,
615-628-6607
Senior Vice President, Corporate Communications,
Marketing
and Public Affairs
