Community Health Systems Announces Sale of Lubbock, Texas Facility
Posted on: Monday, 20 March 2006, 18:00 CST
Community Health Systems, Inc. (NYSE:CYH) announced today that Highland Medical Center, a 123-bed hospital in Lubbock, Texas, has been sold to Shiloh Health Services, Inc., a Louisville, Kentucky corporation. The transaction was effective on March 18, 2006, and was structured as a sale of equity interests. In the second quarter of 2005, Community Health Systems had classified the facility as "held for sale" for accounting purposes.
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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