Community Health Systems Announces Definitive Agreement to Sell St. Petersburg, Florida Hospital
June 25 2020 - 4:15PM
Business Wire
Community Health Systems, Inc. (NYSE: CYH) announced today that
an affiliate of the Company has signed a definitive agreement to
sell 480-bed Bayfront Health St. Petersburg in St. Petersburg,
Florida, and its associated assets to a subsidiary of Orlando
Health. Orlando Health will assume responsibility for the long-term
lease and operations of the hospital. The lease transfer is subject
to the consent of the St. Petersburg City Council.
The transaction is expected to close by the end of the third
quarter this year, subject to regulatory approvals and closing
conditions.
The hospital in this transaction is among the additional
potential divestitures discussed on the Company’s first quarter
2020 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 subsidiary, 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.
Forward-Looking Statements
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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200625005806/en/
Investor Contacts: Kevin Hammons, 615-465-7000 Executive
Vice President and Chief Financial Officer or Ross W. Comeaux,
615-465-7012 Vice President – Investor Relations Media
Contact: Tomi Galin, 615-628-6607 Senior Vice President,
Corporate Communications, Marketing and Public Affairs
Community Health Systems (NYSE:CYH)
Historical Stock Chart
From Aug 2024 to Sep 2024
Community Health Systems (NYSE:CYH)
Historical Stock Chart
From Sep 2023 to Sep 2024