Community Health Systems to Acquire Anna, Illinois Hospital
Posted on: Tuesday, 25 July 2006, 18:01 CDT
Community Health Systems, Inc. (NYSE:CYH) announced today the execution of a definitive agreement to acquire Union County Hospital, located in Anna, Illinois. The 25-bed facility is the only acute care hospital in its community and has been managed by a Community Health Systems' subsidiary on behalf of the local hospital district since 2001. Anna, Illinois, is 25 miles southwest of Marion, Illinois, where the company's facility, Heartland Medical Regional Medical Center, is located. The transaction is structured as a long-term lease of the facility and a purchase of other assets and is subject to customary regulatory approvals. Closing of the transaction is expected prior to the end of the year. The facility provides emergency services, cardiopulmonary and other rehabilitation services, as well as home health care and long-term care services.
"Our five-year relationship with the Union County Hospital District has been mutually beneficial and we are looking forward to taking it to the next level," said Wayne T. Smith, chairman, president and chief executive officer of Community Health Systems, Inc.
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 76 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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