Community Health Systems Announces Definitive Agreement to Sell Lebanon, Tennessee Hospital to Vanderbilt University Medical Center
FRANKLIN, Tenn.--(BUSINESS WIRE)--Mar 29, 2019--Community Health Systems, Inc. (NYSE: CYH) announced today that subsidiaries of the Company have signed a definitive agreement to sell 245-bed Tennova Healthcare - Lebanon in Lebanon, Tennessee, and its associated assets to subsidiaries of Vanderbilt University Medical Center. The transaction is expected to close in the third quarter of 2019, subject to customary regulatory approvals and closing conditions.
The hospital included in this transaction is one of the additional planned divestitures discussed on the Company’s fourth quarter 2018 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.
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: Investor Contacts:
Thomas J. Aaron, 615-465-7000
Executive Vice President and Chief Financial Officer
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: UNITED STATES NORTH AMERICA TENNESSEE
INDUSTRY KEYWORD: HEALTH HOSPITALS OTHER HEALTH GENERAL HEALTH
SOURCE: Community Health Systems, Inc.
Copyright Business Wire 2019.
PUB: 03/29/2019 05:00 PM/DISC: 03/29/2019 05:00 PM