Community Health Systems Announces Definitive Agreement to Sell South Carolina-Based Mary Black Health System
FRANKLIN, Tenn.--(BUSINESS WIRE)--Oct 11, 2018--Community Health Systems, Inc. (NYSE: CYH) announced today that subsidiaries of the Company have signed a definitive agreement to sell the two-hospital Mary Black Health System and related businesses, including physician clinic operations and outpatient services, to Spartanburg Regional Healthcare System in Spartanburg, S.C. The transaction is expected to close in the fourth quarter of 2018, subject to customary regulatory approvals and closing conditions.
The 207-bed Mary Black Health System – Spartanburg in Spartanburg, S.C., and 125-bed Mary Black Health System – Gaffney in Gaffney, S.C., are among the additional planned divestitures discussed on the Company’s second quarter 2018 earnings call.
When the transaction is complete, Community Health Systems affiliates will continue to operate four hospitals in South Carolina.
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 117 affiliated hospitals in 20 states with an aggregate of approximately 19,000 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.
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.
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CONTACT: Community Health Systems, Inc.
Thomas J. Aaron, 615-465-7000
Executive Vice President and Chief Financial Officer
Ross W. Comeaux, 615-465-7012
Vice President – Investor Relations
Tomi Galin, 615-628-6607
Senior Vice President,
Marketing and Public Affairs
KEYWORD: UNITED STATES NORTH AMERICA SOUTH CAROLINA TENNESSEE
INDUSTRY KEYWORD: HEALTH HOSPITALS
SOURCE: Community Health Systems, Inc.
Copyright Business Wire 2018.
PUB: 10/11/2018 05:05 PM/DISC: 10/11/2018 05:05 PM