FRANKLIN, Tenn.--(BUSINESS WIRE)--Community Health Systems, Inc. (the “Company”) (NYSE:CYH) today announced a restructuring of its operating divisions and executive level promotions. The changes precede the Company’s pending acquisition of Health Management Associates, Inc., which includes 71 hospitals and approximately 575 clinic locations. That transaction is expected to close by the end of January 2014, subject to customary closing conditions and receipt of regulatory approvals. Following successful completion of the transaction, the Community Health Systems organization will expand from five to six geographically aligned operating divisions. The new divisional structure and executive promotions are intended to position the larger organization for long-term success during a period of transformation for the Company and the healthcare industry. Community Health Systems Professional Services Corporation employs each of these executives and provides management and consulting services to the organization’s affiliates.
W. Larry Cash has been named President of Financial Services and
Chief Financial Officer.
Previously, Mr. Cash served as Executive Vice President and Chief Financial Officer. Mr. Cash also serves as a member of the Company’s Board of Directors. Mr. Cash oversees all aspects of the Company’s financial operations, including accounting, financial services, revenue management and treasury. He also provides executive oversight for the Information Systems, Internal Audit, Investor Relations, Managed Care and Risk Management departments.
David Miller has been named President and Chief Operating Officer.
In this new position for the organization, Mr. Miller will have executive management responsibility for the organization’s six operating divisions, as well as responsibility for strategic growth initiatives. Mr. Miller will lead efforts to effectively integrate hospitals acquired as part of the Company’s acquisition of Health Management Associates, Inc. Mr. Miller previously served as President of Division I Operations.
Lynn Simon, M.D. has been named President, Clinical Services and
Chief Quality Officer.
Dr. Simon will expand her leadership responsibilities to include all aspects of clinical operations, including clinical services, nursing, quality and safety and case management. She will also oversee medical staff relations, physician practice management, clinical integration initiatives and medical informatics. Dr. Simon is a board-certified neurologist and previously served as Senior Vice President and Chief Quality Officer.
Marty Schweinhart has been named Executive Vice President of
Mr. Schweinhart will expand his leadership responsibilities to include standardization and centralization of business support strategies. He also oversees critical operational support areas including, materials and capital management, facilities management, health informatics and information management, and project management and implementation of major operational initiatives. Mr. Schweinhart previously served as Senior Vice President of Operations.
Marty Bonick has been promoted to President, Division I Operations.
Mr. Bonick will oversee hospital operations in Alabama, Mississippi, North Carolina and Virginia. Most recently, he served as Vice President of Operations for Division I.
Tim Hingtgen has been named President, Division IV Operations.
Mr. Hingtgen will oversee hospitals in Alaska, Arizona, California, New Mexico, Nevada, Oklahoma, Oregon, Utah, Washington and Wyoming. Most recently, he served as a Vice President of Operations for Division IV.
Division Presidents continuing in their roles include:
Michael Portacci, President, Division II Operations
Mr. Portacci will oversee hospitals in Arkansas, Louisiana, Missouri and Texas.
Marty Smith, President, Division III Operations
Mr. Smith will oversee hospitals in Illinois, Kentucky, Tennessee and West Virginia.
Tom Miller, President, Division V Operations
Mr. Miller will oversee hospitals in Indiana, New Jersey, Ohio and Pennsylvania.
Bill Hussey, President, Division VI Operations
Mr. Hussey will oversee hospitals in Florida, Georgia and South Carolina.
The following executives have been promoted from Vice President to
Senior Vice President:
Andi Bosshart, Senior Vice President, Corporate Compliance and Privacy Officer
Jim Doucette, Senior Vice President, Treasurer
Ben Fordham, Senior Vice President and Chief Litigation Counsel
Tomi Galin, Senior Vice President, Corporate Communications, Marketing and Public Affairs
Kevin Hammons, Senior Vice President and Chief Accounting Officer
Tim Marlette, Senior Vice President and Chief Purchasing Officer
Ron Shafer, Senior Vice President, Human Resources
Commenting on the leadership changes, Wayne Smith, Chairman and Chief Executive Officer, said, “The talented and experienced leadership team at Community Health Systems is well prepared and excited about the opportunities ahead as we move toward the completion of our acquisition of Health Management Associates and respond to the changing dynamics in our industry. I appreciate the commitment, hard work and contributions of all of our executive leaders and support teams. It is an honor to work with these exceptional people who are dedicated to our purpose of providing high quality healthcare in communities across the nation and to the long-term success of our organization.”
About Community Health Systems, Inc.
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.”
Certain statements contained in this communication may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements regarding the expected timing of the completion of the merger, the benefits of the merger, including future financial and operating results, the combined company’s plans, objectives expectations and other statements that are not historical facts. Such statements are based on the views and assumptions of the management of the Company and are subject to significant risks and uncertainties. Actual future events or results may differ materially from these statements. Such differences may result from the following factors: the ability to close the transaction on the proposed terms and within the anticipated time period, or at all, which is dependent on the parties’ ability to satisfy certain closing conditions, including the receipt of governmental approvals. Additional risks and factors that may affect results are set forth in the Company’s filings with the Securities and Exchange Commission, including each company’s Annual Report on Form 10-K and Form 10-K/A for the fiscal year ending December 31, 2012.
The forward-looking statements speak only as of the date of this communication. The Company undertakes no obligation to update these statements.