FRANKLIN, Tenn.--(BUSINESS WIRE)--Apr. 27, 2020--
Community Health Systems, Inc. (NYSE: CYH) announced today that an affiliate of the Company has signed a definitive agreement to sell its majority ownership interest in 84‑bed St. Cloud Regional Medical Center and its associated healthcare operations in St. Cloud, Florida, to a subsidiary of Orlando Health. Orlando Health currently holds minority ownership interest in St. Cloud and will purchase the remaining interest through this transaction.
The transaction is expected to close this summer, subject to customary regulatory approvals and closing conditions.
The hospital in this transaction is among the additional planned divestitures discussed on the Company’s fourth quarter 2019 earnings call.
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 99 affiliated hospitals in 17 states with an aggregate of approximately 16,000 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.
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.
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Kevin Hammons, 615-465-7000
Executive Vice President and Chief Financial Officer
Ross W. Comeaux, 615-465-7012
Vice President – Investor Relations
Tomi Galin, 615-628-6607
Senior Vice President, Corporate
Communications, Marketing and Public Affairs
Source: Community Health Systems, Inc.