Community Health Systems Announces Definitive Agreement to Divest Five Pennsylvania Hospitals
Community Health Systems, Inc. (NYSE:CYH) announced today that subsidiaries of the Company have signed a definitive agreement to
sell five Pennsylvania hospitals and their associated assets to subsidiaries of Reading Health System. Hospitals included in the
transaction are 169-bed Brandywine Hospital in Coatesville, 148-bed Chestnut Hill Hospital in Philadelphia, 63-bed Jennersville
Hospital in West Grove, 151-bed Phoenixville Hospital in Phoenixville and 232-bed Pottstown Memorial Medical Center in
Pottstown.
The transaction is expected to close in the third quarter of 2017, subject to customary regulatory approvals and closing
conditions. The five hospitals included in this transaction are part of the 30 planned hospital divestitures discussed on the
Company’s first quarter earnings call.
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
146 affiliated hospitals in 21 states with an aggregate of approximately 24,000 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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Community Health Systems, Inc.
Investor Contacts:
Thomas J. Aaron, 615-465-7000
Executive Vice President and Chief Financial Officer
or
Ross W. Comeaux, 615-465-7012
Senior Director – Investor Relations
or
Media Contact:
Tomi Galin, 615-628-6607
Senior Vice President, Corporate Communications, Marketing and Public Affairs
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