AP NEWS
Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

Community Health Systems Completes Divestiture of Virginia Hospitals

December 31, 2019 GMT

FRANKLIN, Tenn.--(BUSINESS WIRE)--Dec 31, 2019--

Community Health Systems, Inc. (NYSE: CYH) announced today that subsidiaries of the Company have completed the sale of three Virginia hospitals – 300-bed Southside Regional Medical Center in Petersburg, 105-bed Southampton Memorial Hospital in Franklin and 80-bed Southern Virginia Regional Medical Center in Emporia, and their associated assets to subsidiaries of Bon Secours Mercy Health, Inc. The effective date of the transaction is January 1, 2020.

The three hospitals are among the planned divestitures discussed on the Company’s third 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 99 affiliated hospitals in 17 states with an aggregate of approximately 16,000 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/20191231005188/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 RelationsMedia Contact:

Tomi Galin, 615-628-6607

Senior Vice President, Corporate

Communications, Marketing and Public Affairs

KEYWORD: TENNESSEE UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: HEALTH HOSPITALS

SOURCE: Community Health Systems, Inc.

Copyright Business Wire 2019.

PUB: 12/31/2019 04:15 PM/DISC: 12/31/2019 04:15 PM

http://www.businesswire.com/news/home/20191231005188/en