Community Health Systems Announces Divestiture of Lehigh Acres, Florida Hospital
February 01 2016 - 4:15PM
Business Wire
Community Health Systems, Inc. (NYSE: CYH) announced today that
subsidiaries of the Company have completed the sale of Lehigh
Regional Medical Center in Lehigh Acres, Florida, along with
related outpatient services, to subsidiaries of Prime Healthcare
Services, Inc. The effective date of the transaction is February 1,
2016.
With the divestiture of Lehigh Regional Medical Center,
Community Health Systems affiliates continue to operate 25
hospitals in Florida. The Company does not expect the transaction
to have a meaningful impact on financial operations.
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 195 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 advisory and consulting services to
non-affiliated hospitals. The transaction is expected to close
during the first half 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.
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20160201005303/en/
Community Health Systems, Inc.Investor Contact:W. Larry
Cash, 615-465-7000President of Financial Services and Chief
Financial OfficerorMedia Contact:Tomi Galin,
615-628-6607Senior Vice President, Corporate Communications,
Marketing and Public Affairs
Community Health Systems (NYSE:CYH)
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