FRANKLIN, Tenn.--(BUSINESS WIRE)--Community Health Systems, Inc. (NYSE:CYH) announced today that subsidiaries of the Company have signed a definitive agreement to sell 88-bed Lake Area Medical Center in Lake Charles, Louisiana, and its associated assets to subsidiaries of CHRISTUS Health. The transaction is expected to close in the second quarter of this year, subject to customary regulatory approvals and closing conditions.
The hospital in this transaction is one of the planned hospital divestitures previously discussed. The Company will provide an update on its divestiture activity on its first quarter 2017 earnings call scheduled to begin at 11:00 a.m. Central time, 12:00 p.m. Eastern time, on Tuesday, May 2, 2017.
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.
