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Community Health Systems Acquires Three Hospitals in Tennessee, Pennsylvania and Arkansas

Posted on: Monday, 3 October 2005, 18:00 CDT

Community Health Systems, Inc. (NYSE:CYH) announced today the closing of three separate acquisition transactions in Tennessee, Pennsylvania and Arkansas. Bradley Memorial Hospital, a 251-bed acute care general hospital in Cleveland, Tennessee, was acquired from a quasi-governmental entity. A subsidiary of Community Health Systems currently operates the smaller hospital, Cleveland Community Hospital, in this market. Sunbury Community Hospital, a 123-bed acute care general hospital in Sunbury, Pennsylvania, was acquired from a local non profit corporation. Newport Hospital and Clinic, an 83-bed acute care general hospital in Newport, Arkansas, was acquired from a private investor. This facility will be immediately closed and the operations will be consolidated with Harris Hospital, also located in Newport and owned and operated by a subsidiary of Community Health Systems.

"The acquisitions in both Arkansas and Tennessee reflect our strategy to be the sole provider in the communities that we serve," said Wayne T. Smith, chairman, president and chief executive officer of Community Health Systems, Inc. "Through these acquisitions, we are strengthening our commitment to providing high quality health care services in both communities. The Sunbury, Pennsylvania, acquisition further solidifies our commitment to quality health care in the State of Pennsylvania. We look forward to working with the dedicated employees and licensed professionals in these three communities."

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 71 hospitals in 21 states, nine of which are in Pennsylvania and twelve in Tennessee. 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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