FRANKLIN, Tenn.--(BUSINESS WIRE)--Community Health Systems, Inc. (NYSE: CYH) announced today that a subsidiary has acquired operational control of Gaffney Medical Center, a 125-bed hospital located in Gaffney, South Carolina. The acquisition was effective November 1, 2014.
Previously, Gaffney Medical Center was owned through a joint venture between Novant Health and a subsidiary of Health Management Associates, Inc. (HMA). Community Health Systems acquired HMA in January 2014. As a result of this transaction, Novant no longer retains an economic interest in the hospital.
Commenting on today’s announcement, Wayne T. Smith, chairman and chief executive officer of Community Health Systems, Inc., said, “We are pleased to expand our services and hospital footprint in South Carolina through this acquisition, and we look forward to working with the hospital’s medical staff and employees as they continue to provide quality care for their community.”
Community Health Systems’ affiliates now own and operate nine acute care hospitals in South Carolina.
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.