Community Health Systems, Inc. (NYSE: CYH) announced today that
subsidiaries of the Company have executed a definitive agreement for the
purchase of an 80 percent equity interest in Metro Health in Wyoming,
Michigan, a suburb west of Grand Rapids. The agreement includes 208-bed
Metro Health Hospital, outpatient centers, and related assets and
businesses. The transaction is subject to customary regulatory reviews,
including approval by the Michigan Office of the Attorney General and
certificate of need review by the Michigan Department of Community
Health.
Commenting on today’s announcement, Wayne T. Smith, chairman, president
and chief executive officer of Community Health Systems, Inc., said,
“Metro Health provides an opportunity for our company to expand into
Michigan and add the state’s fastest growing market to our organization.
This health system has served Western Michigan for many years, and we
look forward to supporting Metro Health’s medical staff and employees in
their ongoing work to provide quality care.”
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 206
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 2015