Published: July 28, 2011
Community Health Systems Announces Definitive Agreement to Acquire Tomball, Texas Hospital
FRANKLIN, Tenn. - (BUSINESS WIRE) - Community Health Systems, Inc. (NYSE: CYH) announced today that a
subsidiary has executed a definitive agreement to acquire substantially
all of the assets of Tomball Regional Medical Center, located in
Tomball, Texas, a rapidly growing community approximately 30 miles
northwest of Houston. The 358-bed hospital provides a full array of
healthcare services and sits on a 155-acre campus that also includes a
cancer center, heart center, women's health center, outpatient surgery
centers, and sports medicine center. The transaction is subject
to customary regulatory approvals. When the acquisition is complete,
Tomball Regional Medical Center will become the 19th
Community Health Systems, Inc. affiliated hospital in Texas.
Commenting on today's announcement, Wayne T. Smith, chairman, president
and chief executive officer of Community Health Systems, Inc., said, "We
are delighted that after a comprehensive review of strategic
alternatives and potential partners, Tomball Regional Medical Center has
chosen to affiliate with our organization. The hospital has earned
numerous clinical distinctions and we believe it will complement our
ongoing commitment to deliver quality healthcare to Texas communities.
We look forward to deploying our resources and operating strategies as
we join with the hospital's medical staff and employees to serve the
future healthcare needs of this growing region."
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
133 hospitals in 29 states with an aggregate of approximately 19,500
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.
Community Health Systems, Inc.
Investor Contact:
W. Larry
Cash, 615-465-7000
Executive Vice President
and Chief
Financial Officer
or
Media Contact:
Tomi Galin,
615-628-6607
Vice President, Corporate Communications
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