FRANKLIN, Tenn.--(BUSINESS WIRE)--Community Health Systems, Inc. (NYSE: CYH) announced today that subsidiaries have executed a definitive agreement to sell their ownership interests in the entities that operate two South Carolina hospitals, 59-bed Chesterfield General Hospital in Cheraw and 102-bed Marlboro Park Hospital in Bennettsville, and related outpatient services to M/C Healthcare LLC. The transaction is expected to close in the next sixty days, subject to customary regulatory approvals and closing conditions.
The hospitals are operated under leases with a REIT that will otherwise expire on April 30, 2015. M/C Healthcare LLC is the successor lessee.
The Company does not expect the divestitures to have a meaningful impact on financial operations. Following the divestiture of Chesterfield General Hospital and Marlboro Park Hospital, the Company’s subsidiaries will operate six acute care hospitals in South Carolina.
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.
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 203 affiliated hospitals in 29 states with an aggregate of approximately 31,000 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.
