Community Health Systems Announces Definitive Agreement to Sell Three Tennessee Hospitals to West Tennessee Healthcare
March 27 2018 - 7:42PM
Business Wire
Community Health Systems, Inc. (NYSE: CYH) announced today that
an affiliate of the Company has signed a definitive agreement to
sell three Tennessee hospitals – 225-bed Tennova
Healthcare-Dyersburg Regional in Dyersburg, 150-bed Tennova
Healthcare-Regional Jackson in Jackson and 100-bed Tennova
Healthcare-Volunteer Martin in Martin – and their associated assets
to West Tennessee Healthcare. The transaction is expected to close
in the second quarter of 2018, subject to customary regulatory
approvals and closing conditions.
Hospitals included in this transaction are among the additional
planned divestitures discussed on the Company’s fourth quarter 2017
earnings call.
Kaufman, Hall & Associates, LLC is acting as the exclusive
financial advisor to West Tennessee Healthcare on this
transaction.
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.
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: https://www.businesswire.com/news/home/20180327006416/en/
Community Health Systems, Inc.Investor Contacts: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
Affairs
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