Community Health Systems to Acquire Two Hospitals From Alabama Baptist Health System
Posted on: Thursday, 23 February 2006, 09:01 CST
Community Health Systems, Inc. (NYSE:CYH) today announced the execution of a definitive agreement to acquire two hospitals from the Baptist Health System, Birmingham, Alabama: Baptist Medical Center - Dekalb and Baptist Medical Center - Cherokee. The Dekalb hospital is located in Ft. Payne, Alabama, and is licensed for 134 beds. The Cherokee hospital is located in Centre, Alabama, and is licensed for 60 beds. Each hospital is less than 100 miles northeast of Birmingham, Alabama, and both are the sole providers of healthcare in their respective communities.
"We are very pleased to add both of these facilities to our system of quality hospitals," 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 in each of these Alabama 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. 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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