Community Health Systems Signs Definitive Agreement to Acquire Bradley Memorial Hospital
Posted on: Monday, 19 September 2005, 18:00 CDT
Community Health Systems, Inc. (NYSE:CYH) announced today the execution of a definitive agreement to acquire Bradley Memorial Hospital, a 251-bed acute care general hospital located in Cleveland, Tennessee. Bradley Memorial Hospital is presently operated as statutorily created public hospital. A Community Health Systems affiliate also owns Cleveland Community Hospital, a 100-bed facility located in the same market, as well as ten others in Tennessee.
"This acquisition will create numerous efficiencies and growth opportunities in this existing market," said Wayne T. Smith, chairman, president and chief executive officer of Community Health Systems, Inc. "We look forward to working with the dedicated employees and licensed professionals at Bradley Memorial Hospital."
Located in the Nashville, Tennessee, suburb of Brentwood, Community Health Systems is a leading operator of general acute care hospitals in non-urban communities throughout the country. Through its subsidiaries, the Company currently owns, leases or operates 69 hospitals in 21 states. Its hospitals offer a broad range of inpatient and outpatient medical and surgical services. Shares in Community Health Systems, Inc. are traded on the New York Stock Exchange under the symbol "CYH."
Statements contained in this news release are forward-looking statements that involve risks 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, specifically the most recent filings which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements, including execution of our growth, acquisition, and business strategies. These and other applicable risks are summarized under the caption "risk factors" in the Company's Securities and Exchange Commission filings.
Source: Business Wire
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