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 substantially all of the associated assets of 421-bed Munroe Regional Medical Center in Ocala, Florida, to Florida Hospital Ocala, Inc., a subsidiary of Adventist Health System Sunbelt Healthcare Corporation. As part of the transaction, Florida Hospital will assume the long-term lease and operations of Munroe Regional Medical Center. The transfer of the lease is subject to the consent of the Marion County Hospital District. The transaction is expected to close in the third quarter of 2018, subject to customary regulatory approvals and closing conditions.
The hospital included in this transaction is 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 Adventist Health System 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 126 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.
