Tuesday, July 3, 2012

Community Health Systems Announces Acquisition of York, Pennsylvania Hospital


Community Health Systems, Inc. (CYH) announced today that subsidiaries of the Company have acquired substantially all of the assets of Memorial Health Systems in York, Pennsylvania. The system includes 100-bed Memorial Hospital, the Surgical Center of York, and other outpatient and ancillary services. Memorial Hospital becomes the seventeenth Community Health Systems, Inc. affiliated hospital in Pennsylvania. The purchase agreement includes a commitment to construct a replacement hospital within five years of the closing date.

Commenting on today’s announcement, Wayne T. Smith, chairman, president and chief executive officer of Community Health Systems, Inc., said, “The acquisition of Memorial Health Systems extends our strong track record of growth and investment in Pennsylvania. The hospital’s medical staff and employees provide high-quality healthcare services in a competitive environment. We look forward to applying our proven operating strategies, physician recruitment resources, and access to capital to support the care they provide for their patients and to help bring life to a new, modern medical facility that advances clinical quality and the hospital experience.”

Located in the Nashville, Tennessee, suburb of Franklin, 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 non-urban and mid-size markets throughout the country. Through its subsidiaries, the Company currently owns, leases or operates 135 hospitals in 29 states with an aggregate of approximately 20,000 licensed beds. Its hospitals offer a broad range of inpatient and surgical services, outpatient treatment and skilled nursing care. In addition, through its subsidiary, Quorum Health Resources, LLC, the Company provides management and consulting services to non-affiliated general acute care hospitals located throughout the United States. Shares in Community Health Systems, Inc. are traded on the New York Stock Exchange under the symbol “CYH.”

Forward-Looking Statements

Statements contained in this news release regarding expected operating results, acquisition transactions or divestitures 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 the original article here

No comments:

Post a Comment