Community Health Systems Acquires Farmington, Missouri Hospital
Posted on: Thursday, 1 June 2006, 18:00 CDT
Community Health Systems, Inc. (NYSE:CYH) announced today the acquisition of Mineral Area Regional Medical Center, located in Farmington, Missouri, which is 80 miles south of St. Louis. The seller of the 135-bed facility was a local non-profit corporation and the facility was acquired by a wholly-owned subsidiary of Community Health Systems, Inc. The hospital provides a full range of services and the assets acquired include several physician practices and a home health agency.
"This is an attractive facility with only a limited need for capital and has a very involved medical staff," said Wayne T. Smith, chairman, president and chief executive officer of Community Health Systems, Inc. "We have been successful in implementing our proven operating strategies at our other two facilities in north central Missouri and look forward to the opportunities available to us in this growing market."
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 75 hospitals in 22 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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