Community Health Systems Completes Sale of Majority Interest in Home Health Division
January 03 2017 - 7:00AM
Business Wire
Community Health Systems, Inc. (NYSE:CYH) announced today that a
subsidiary of the Company has completed the sale of a majority
ownership interest in the Company’s Home Health division to a
subsidiary of Almost Family, Inc. (NASDAQ: AFAM) for $128 million,
subject to a working capital adjustment. The effective date of the
transaction is December 31, 2016.
This transaction is one of the seven discussed on the Company’s
third quarter 2016 earnings call. Net proceeds will be applied to
pay down debt.
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 subsidiaries, owns, leases or
operates 158 affiliated hospitals in 22 states with an aggregate of
nearly 27,000 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.
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version on businesswire.com: http://www.businesswire.com/news/home/20170103005411/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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