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Community Health Systems Announces the Execution of a Definitive Agreement to Acquire Waukegan, Illinois, Health System

Posted on: Thursday, 2 February 2006, 18:01 CST

Community Health Systems, Inc. (NYSE:CYH) announced today the execution of a definitive agreement to acquire the healthcare assets of Vista Health, which includes Victory Memorial Hospital (336 licensed beds) and St. Therese Medical Center (currently utilizing 71 non-acute care beds), both located in Waukegan, Illinois, as well as Vista Imaging Center, located in Gurnee, Vista Surgery and Treatment Center in Lindenhurst, and Vista M.R. Institute, with locations in Lindenhurst and Gurnee. The seller is a non-profit corporation.

"Because of the recognized need for capital and the expansion of services within the market, this acquisition represents a tremendous growth opportunity for our Company," said Wayne T. Smith, chairman, president and chief executive officer of Community Health Systems, Inc. "We believe the patients, the medical staff, the employees, and the other community stakeholders will benefit from the consummation of this transaction, and we look forward to the partnership we will be forming with each of these groups."

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. 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, including particularly the ability to consummate this acquisition transaction and to integrate and improve the operations at these facilities. 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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