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Community Health Systems Announces Definitive Agreements to Sell Hospitals Located in Davenport and Lake Wales, Florida

May 22, 2019

FRANKLIN, Tenn.--(BUSINESS WIRE)--May 22, 2019--

Community Health Systems, Inc. (NYSE: CYH) announced today that affiliates of the Company have signed definitive agreements to sell two Florida hospitals to affiliates of Adventist Health System Sunbelt Healthcare Corporation. The two hospitals are Heart of Florida Regional Medical Center, a 193-bed hospital in Davenport, Fla., and Lake Wales Medical Center, a 160-bed hospital in Lake Wales, Fla., along with their respective assets, physician clinic operations and outpatient services. Each of the transactions, which are subject to customary regulatory approvals and closing conditions, is expected to close in the late third quarter of 2019.

The hospitals included in these transactions are among the additional planned divestitures discussed on the Company’s first quarter 2019 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 106 affiliated hospitals in 18 states with an aggregate of approximately 17,000 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.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190522005798/en/

CONTACT: Investor Contacts:

Thomas J. Aaron, 615-465-7000

Executive Vice President and Chief Financial Officer

or

Ross W. Comeaux, 615-465-7012

Vice President – Investor Relations

Media Contact:

Tomi Galin, 615-628-6607

Senior Vice President, Corporate

or Communications, Marketing and Public Affairs

KEYWORD: UNITED STATES NORTH AMERICA FLORIDA TENNESSEE

INDUSTRY KEYWORD: HEALTH HOSPITALS

SOURCE: Community Health Systems, Inc.

Copyright Business Wire 2019.

PUB: 05/22/2019 04:15 PM/DISC: 05/22/2019 04:15 PM

http://www.businesswire.com/news/home/20190522005798/en

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