FRANKLIN, Tenn.--(BUSINESS WIRE)--Community Health Systems, Inc. (NYSE: CYH) announced today that an affiliate of the Company has signed a definitive agreement to sell three Tennessee hospitals – 225-bed Tennova Healthcare-Dyersburg Regional in Dyersburg, 150-bed Tennova Healthcare-Regional Jackson in Jackson and 100-bed Tennova Healthcare-Volunteer Martin in Martin – and their associated assets to West Tennessee Healthcare. The transaction is expected to close in the second quarter of 2018, subject to customary regulatory approvals and closing conditions.
Hospitals included in this transaction are among the additional planned divestitures discussed on the Company’s fourth quarter 2017 earnings call.
Kaufman, Hall & Associates, LLC is acting as the exclusive financial advisor to West Tennessee Healthcare on this transaction.
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 127 affiliated hospitals in 20
states with an aggregate of approximately 21,000 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.
