Shanda Group Increases Investment in Community Health Systems and Expresses Support for Company
January 11 2018 - 7:45AM
Business Wire
On January 11, 2018, members of Shanda Group filed an amendment
to Shanda’s Schedule 13D with the Securities and Exchange
Commission to disclose an increase in its investment in Community
Health Systems (NYSE: CYH). Shanda, together with its affiliates,
is CYH’s largest shareholder and holds approximately 24.0% of the
Company’s outstanding common stock.
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Robert Chiu, group president of Shanda Group, stated, “We have
consistently maintained a good relationship with CYH and are
supportive of the Company and its management team as they continue
to execute on the Company’s strategic objectives.”
Wayne T. Smith, chairman and chief executive officer of the
Company, stated, “We are pleased with Shanda’s continued support
and welcome and value the input of Shanda and all of our
stockholders.”
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 127 affiliated hospitals in 20 states with an aggregate of
approximately 21,000 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.
About Shanda Group
Shanda Group is a private investment firm involved in public
market, private equity and real estate investments around the
world. Shanda Group was founded in 1999 and was one of the earliest
and leading Internet conglomerates in China. Its parent company,
Shanda Interactive Entertainment Limited, completed its IPO in 2004
and was the first Chinese online game company successfully listed
on NASDAQ. Committed to bringing positive changes to the world,
Shanda Group actively supports philanthropic efforts with a
particular focus on fundamental research for brain science.
For more information on Shanda’s Schedule 13D/A filing, please
visit www.sec.gov.
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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Community Health Systems,
Inc.Investor Contact:Thomas J. Aaron,
615-465-7000Executive Vice President and Chief Financial
OfficerorRoss W. Comeaux, 615-465-7012Vice President – Investor
RelationsorMedia Contact:Tomi Galin, 615-628-6607Senior Vice
President, Corporate Communications, Marketing and Public
AffairsorShanda GroupJason
Reindorp, 650-656-9574Head of Global PR & Communications
Community Health Systems (NYSE:CYH)
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