Community Health Systems, Inc. (NYSE: CYH) announced today that
subsidiaries of the Company have executed a definitive agreement to sell
substantially all of the assets of 281-bed Riverview Regional Medical
Center and related outpatient services to Prime Healthcare Services, Inc.
Divestiture of the hospital is required under an agreement with the
Federal Trade Commission following the Company’s January 2014
acquisition of Health Management Associates, Inc. The divestiture will
require Federal Trade Commission approval and is expected to close early
in 2015, subject to customary closing conditions. The Company does not
expect the divestiture to have a meaningful impact on financial
operations.
Prime Healthcare Services currently operates 29 hospitals. Riverview
Regional Medical Center will become its first hospital in Alabama.
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