Community Health Systems Announces Definitive Agreement to Sell South Carolina-Based Mary Black Health System
October 11 2018 - 5:05PM
Business Wire
Community Health Systems, Inc. (NYSE: CYH) announced today that
subsidiaries of the Company have signed a definitive agreement to
sell the two-hospital Mary Black Health System and related
businesses, including physician clinic operations and outpatient
services, to Spartanburg Regional Healthcare System in Spartanburg,
S.C. The transaction is expected to close in the fourth quarter of
2018, subject to customary regulatory approvals and closing
conditions.
The 207-bed Mary Black Health System – Spartanburg in
Spartanburg, S.C., and 125-bed Mary Black Health System – Gaffney
in Gaffney, S.C., are among the additional planned divestitures
discussed on the Company’s second quarter 2018 earnings call.
When the transaction is complete, Community Health Systems
affiliates will continue to operate four hospitals in South
Carolina.
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 117 affiliated hospitals in 20 states with an aggregate of
approximately 19,000 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: https://www.businesswire.com/news/home/20181011005930/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
Community Health Systems (NYSE:CYH)
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