Community Health Systems Announces Definitive Agreement to Divest Lehigh Acres, Florida Hospital
September 21 2015 - 7:00AM
Business Wire
Community Health Systems, Inc. (NYSE: CYH) announced today that
subsidiaries of the Company have executed a definitive agreement to
sell substantially all of the assets of 88-bed Lehigh Regional
Medical Center in Lehigh Acres, Florida, along with related
outpatient services, to subsidiaries of Prime Healthcare Services,
Inc. The divestiture is expected to close in the fourth quarter of
2015, subject to customary regulatory approvals and closing
conditions.
The Company does not expect the divestiture to have a meaningful
impact on financial operations. Following the divestiture of Lehigh
Regional Medical Center, Community Health Systems affiliates will
continue to operate 25 hospitals in Florida.
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 198 affiliated hospitals in 29 states with
an aggregate of approximately 30,000 licensed beds.
The Company has announced plans for a spin-off transaction to
create a new, publicly traded company, Quorum Health Corporation,
with 38 affiliated hospitals and related outpatient services in 16
states, together with Quorum Health Resources, LLC, a subsidiary
providing management and consulting services to non-affiliated
hospitals. The transaction is expected to close during the first
quarter of 2016.
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20150921005144/en/
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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