Community Health Systems Announces Definitive Agreement to Sell Cleveland, Tennessee, Hospital to Hamilton Health Care System
18 Abril 2024 - 5:15PM
Business Wire
Community Health Systems, Inc. (NYSE: CYH) announced today that
certain subsidiaries of the Company have entered into a definitive
agreement to sell 351-bed Tennova Healthcare – Cleveland in
Cleveland, Tennessee, and certain related businesses to affiliates
of Hamilton Health Care System, Inc. for $160 million in cash,
subject to certain net working capital and other adjustments.
Additional consideration may be received following the transaction
contingent upon potential changes to certain supplemental
reimbursement programs.
The transaction is expected to close in the third quarter of
this year, subject to customary regulatory approvals and closing
conditions.
The hospital included in this transaction is among the
additional potential divestitures discussed on the Company’s fourth
quarter and year-end 2023 earnings call.
About Community Health Systems, Inc. Community Health
Systems, Inc. is one of the nation’s largest healthcare companies.
The Company’s affiliates are leading providers of healthcare
services, developing and operating healthcare delivery systems in
40 distinct markets across 15 states. The Company’s subsidiaries
own or lease 71 affiliated hospitals with approximately 12,000 beds
and operate more than 1,000 sites of care, including physician
practices, urgent care centers, freestanding emergency departments,
occupational medicine clinics, imaging centers, cancer centers and
ambulatory surgery centers.
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20240418677674/en/
Media Contact: Tomi Galin Executive Vice President,
Corporate Communications, Marketing and Public Affairs (615)
628-6607
Investor Contacts: Kevin Hammons President and Chief
Financial Officer (615) 465-7000
Anton Hie Vice President – Investor Relations (615) 465-7012
Community Health Systems (NYSE:CYH)
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