Community Health Systems Announces Acquisition of Fayetteville, Arkansas Hospitals
April 01 2016 - 5:15PM
Business Wire
Community Health Systems, Inc. (NYSE: CYH) announced today that
a subsidiary of the Company has acquired an 80 percent ownership
interest in 20-bed Physicians’ Specialty Hospital in Fayetteville,
Arkansas.
Physicians’ Specialty Hospital is located in the Arkansas region
served by Northwest Health, a CHS-affiliated network with three
hospitals, four convenient care centers and associated outpatient
clinics.
Commenting on the announcement, Wayne T. Smith, chairman and
chief executive officer of Community Health Systems, Inc., said,
“The addition of Physicians’ Specialty Hospital in Fayetteville
deepens our network of facilities in northwest Arkansas, one of the
fastest-growing markets in the U.S. The physicians and providers of
this hospital have established a strong reputation for quality
care, and we look forward to working with them as we coordinate and
strengthen clinical services for the region.”
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 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/20160401005807/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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