Community Health Systems, Inc. (NYSE: CYH) announced today that a
subsidiary has acquired operational control of Gaffney Medical Center, a
125-bed hospital located in Gaffney, South Carolina. The acquisition was
effective November 1, 2014.
Previously, Gaffney Medical Center was owned through a joint venture
between Novant Health and a subsidiary of Health Management Associates,
Inc. (HMA). Community Health Systems acquired HMA in January 2014. As a
result of this transaction, Novant no longer retains an economic
interest in the hospital.
Commenting on today’s announcement, Wayne T. Smith, chairman and chief
executive officer of Community Health Systems, Inc., said, “We are
pleased to expand our services and hospital footprint in South Carolina
through this acquisition, and we look forward to working with the
hospital’s medical staff and employees as they continue to provide
quality care for their community.”
Community Health Systems’ affiliates now own and operate nine acute care
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. Through
its subsidiaries, the Company currently owns, leases or operates 207
affiliated hospitals in 29 states with an aggregate of approximately
31,100 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 expected operating
results, acquisition transactions or divestitures 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.
Copyright Business Wire 2014