Community Health Systems Announces Definitive Agreement to Divest Anniston, Alabama Hospital
March 03 2017 - 4:15PM
Business Wire
Community Health Systems, Inc. (NYSE:CYH) announced today that
subsidiaries of the Company have signed a definitive agreement to
sell 125-bed Stringfellow Memorial Hospital in Anniston, Alabama,
to The Health Care Authority of the City of Anniston. The purchase
price of $25 million includes assumption of the approximately $13
million facility lease.
The transaction is expected to close in the second quarter of
2017, subject to customary regulatory approvals and closing
conditions, as well as a financing contingency. This transaction is
one of the 25 transactions discussed on the Company’s fourth
quarter and year-end 2016 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 subsidiaries, owns, leases or
operates 158 affiliated hospitals in 22 states with an aggregate of
approximately 26,000 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/20170303005776/en/
Community Health Systems, Inc.Investor Contacts:W. Larry
Cash, 615-465-7000President of Financial Services and Chief
Financial OfficerorRoss W. Comeaux, 615-465-7012Senior Director –
Investor RelationsorMedia Contact:Tomi Galin,
615-628-6607Senior Vice President, Corporate Communications,
Marketing and Public Affairs
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