Community Health Systems Announces Definitive Agreement to Divest Lake Charles, Louisiana Hospital
May 01 2017 - 4:21PM
Business Wire
Community Health Systems, Inc. (NYSE:CYH) announced today that
subsidiaries of the Company have signed a definitive agreement to
sell 88-bed Lake Area Medical Center in Lake Charles, Louisiana,
and its associated assets to subsidiaries of CHRISTUS Health. The
transaction is expected to close in the second quarter of this
year, subject to customary regulatory approvals and closing
conditions.
The hospital in this transaction is one of the planned hospital
divestitures previously discussed. The Company will provide an
update on its divestiture activity on its first quarter 2017
earnings call scheduled to begin at 11:00 a.m. Central time,
12:00 p.m. Eastern time, on Tuesday, May 2, 2017.
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 146
affiliated hospitals in 21 states with an aggregate of
approximately 24,000 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 StatementsStatements 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/20170501006247/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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