FRANKLIN, Tenn.--(BUSINESS WIRE)--Community Health Systems, Inc. (NYSE: CYH) announced today that subsidiaries of the Company have completed the sale of Riverview Regional Medical Center in Gadsden, Alabama, and Dallas Regional Medical Center in Mesquite, Texas, to subsidiaries of Prime Healthcare Services, LLC. The transactions also included related outpatient services at the hospitals. The effective date of the transactions is March 1, 2015.
Divestiture of Riverview Regional Medical Center was required under an agreement with the Federal Trade Commission following the Company’s January 2014 acquisition of Health Management Associates, Inc. The Company does not expect the transactions to have a meaningful impact on financial operations.
With the divestitures, the Company’s subsidiaries operate ten hospitals in Alabama, including Gadsden Regional Medical Center, and 17 hospitals in Texas.
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 203 affiliated hospitals in 29 states with an aggregate of approximately 31,000 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 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.