Community Health Systems Announces Acquisition of Natchez, Mississippi Hospital
Community Health Systems, Inc. (NYSE:CYH) announced today that a subsidiary has acquired substantially all of the assets of Natchez Regional Medical Center, a 179-bed hospital located in Natchez, Mississippi. Natchez Regional Medical Center voluntarily filed a Chapter 9 bankruptcy petition in March 2014. Community Health Systems’ subsidiary was the sole and winning bidder in an auction of the hospital by the Adams County Board of Supervisors on September 11, 2014. The sale of the hospital was approved by the U.S. Bankruptcy Court on September 30, 2014.
A separate subsidiary of the Company owns and operates 101-bed Natchez Community Hospital, which became an affiliate of Community Health Systems through the acquisition of Health Management Associates, Inc. in January 2014. Over time, operations of the two Natchez hospitals will be consolidated to create a stronger, more efficient healthcare delivery system.
Commenting on today’s announcement, Wayne T. Smith, chairman and chief executive officer of Community Health Systems, Inc., said, “We see considerable opportunity to support the physicians and employees of these hospitals as they work together to create a sustainable, successful healthcare system. The combination of these facilities ultimately will result in an operationally strong hospital, a more coordinated approach to patient care, and enhanced access to a wide array of quality health services for local residents.”
Community Health Systems’ affiliates own and operate 13 acute care hospitals in Mississippi.
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. Through its subsidiaries, the Company currently owns, leases or operates 207 affiliated hospitals in 29 states with an aggregate of approximately 31,100 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 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.
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