Community Health Systems, Inc. Announces Definitive Agreement to Divest Ownership Interest In Bennettsville & Cheraw, South C...
March 03 2015 - 8:00AM
Business Wire
Community Health Systems, Inc. (NYSE: CYH) announced today that
subsidiaries have executed a definitive agreement to sell their
ownership interests in the entities that operate two South Carolina
hospitals, 59-bed Chesterfield General Hospital in Cheraw and
102-bed Marlboro Park Hospital in Bennettsville, and related
outpatient services to M/C Healthcare LLC. The transaction is
expected to close in the next sixty days, subject to customary
regulatory approvals and closing conditions.
The hospitals are operated under leases with a REIT that will
otherwise expire on April 30, 2015. M/C Healthcare LLC is the
successor lessee.
The Company does not expect the divestitures to have a
meaningful impact on financial operations. Following the
divestiture of Chesterfield General Hospital and Marlboro Park
Hospital, the Company’s subsidiaries will operate six acute care
hospitals in South Carolina.
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.
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 203 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.
Community Health Systems, Inc.Investor Relations:W. Larry
Cash, 615-465-7000President of Financial Services and Chief
Financial OfficerorMedia Relations:Tomi Galin,
615-628-6607Senior Vice President, Corporate Communications,
Marketing and Public Affairs
Community Health Systems (NYSE:CYH)
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