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Community Health Systems Completes Divestiture of Cleveland, Tennessee, Hospital to Hamilton Health Care System

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Community Health Systems (NYSE: CYH) has completed the sale of Tennova Healthcare – Cleveland, a 351-bed hospital in Cleveland, Tennessee, to Hamilton Health Care System for $160 million. The transaction, effective August 1, 2024, also includes certain related businesses. Additional cash consideration may be received based on potential changes to supplemental reimbursement programs.

This divestiture is part of Community Health Systems' ongoing strategy to optimize its portfolio and focus on core markets. The sale of the Cleveland facility demonstrates the company's commitment to streamlining operations and potentially improving its financial position. Investors and analysts will likely monitor how this transaction impacts CYH's balance sheet and future performance in the healthcare sector.

Community Health Systems (NYSE: CYH) ha completato la vendita di Tennova Healthcare – Cleveland, un ospedale con 351 letti a Cleveland, Tennessee, al Hamilton Health Care System per 160 milioni di dollari. La transazione, in vigore dal 1 agosto 2024, include anche alcune attività correlate. Potrebbe essere ricevuta ulteriore considerazione monetaria in base a potenziali modifiche ai programmi di rimborso supplementari.

Questa cessione fa parte della strategia continua di Community Health Systems per ottimizzare il proprio portafoglio e concentrarsi sui mercati principali. La vendita della struttura di Cleveland dimostra l'impegno dell'azienda a snellire le operazioni e migliorare la propria posizione finanziaria. Gli investitori e gli analisti monitoreranno probabilmente come questa transazione influenzi il bilancio di CYH e le future performance nel settore della salute.

Community Health Systems (NYSE: CYH) ha completado la venta de Tennova Healthcare – Cleveland, un hospital de 351 camas en Cleveland, Tennessee, al sistema de salud Hamilton por 160 millones de dólares. La transacción, efectiva el 1 de agosto de 2024, también incluye ciertos negocios relacionados. Se puede recibir consideración monetaria adicional en función de posibles cambios en los programas de reembolso suplementarios.

Esta desinversión es parte de la estrategia continua de Community Health Systems para optimizar su cartera y centrarse en los mercados clave. La venta de la instalación de Cleveland demuestra el compromiso de la empresa de agilizar las operaciones y potencialmente mejorar su posición financiera. Es probable que los inversores y analistas sigan cómo esta transacción impacta el balance de CYH y su desempeño futuro en el sector de salud.

커뮤니티 헬스 시스템즈(뉴욕증권거래소: CYH)는 테노바 헬스케어 – 클리블랜드, 테네시의 351병상 병원을 해밀턴 헬스 케어 시스템에 1억6000만 달러매각을 완료했습니다. 이 거래는 2024년 8월 1일부로 유효하며, 일부 관련 비즈니스도 포함됩니다. 추가 현금 보상은 보조 상환 프로그램의 잠재적 변화에 따라 받을 수 있습니다.

이 매각은 커뮤니티 헬스 시스템즈의 지속적인 전략의 일환으로, 포트폴리오를 최적화하고 핵심 시장에 집중하는 것입니다. 클리블랜드 시설의 매각은 회사가 운영을 간소화하고 재무 상태를 개선하기 위한 노력을 보여줍니다. 투자자와 분석가들은 이 거래가 CYH의 재무 상태와 향후 의료 분야의 성과에 어떻게 영향을 미치는지 주시할 것입니다.

Community Health Systems (NYSE: CYH) a achevé la vente de Tennova Healthcare – Cleveland, un hôpital de 351 lits à Cleveland, Tennessee, au Hamilton Health Care System pour 160 millions de dollars. La transaction, effective à partir du 1er août 2024, inclut également certaines entreprises connexes. Une compensation monétaire supplémentaire peut être reçue en fonction de changements potentiels dans les programmes de remboursement complémentaires.

Cette cession s'inscrit dans la stratégie continue de Community Health Systems visant à optimiser son portefeuille et à se concentrer sur les marchés clés. La vente de l'établissement de Cleveland démontre l'engagement de l'entreprise à rationaliser ses opérations et à améliorer potentiellement sa situation financière. Les investisseurs et les analystes surveilleront probablement l'impact de cette transaction sur le bilan de CYH et sa performance future dans le secteur de la santé.

Community Health Systems (NYSE: CYH) hat den Verkauf von Tennova Healthcare – Cleveland, einem 351-Betten-Krankenhaus in Cleveland, Tennessee, an das Hamilton Health Care System für 160 Millionen Dollar abgeschlossen. Die Transaktion tritt am 1. August 2024 in Kraft und umfasst auch bestimmte verwandte Geschäfte. Zusätzliche Barzahlungen können basierend auf möglichen Änderungen der ergänzenden Rückerstattungsprogramme erhalten werden.

Diese Abspaltung ist Teil der laufenden Strategie von Community Health Systems, das Portfolio zu optimieren und sich auf die Kernmärkte zu konzentrieren. Der Verkauf der Einrichtung in Cleveland zeigt das Engagement des Unternehmens, die Abläufe zu straffen und die finanzielle Lage potenziell zu verbessern. Investoren und Analysten werden wahrscheinlich beobachten, wie sich diese Transaktion auf die Bilanz von CYH und die zukünftige Leistung im Gesundheitssektor auswirkt.

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FRANKLIN, Tenn.--(BUSINESS WIRE)-- Community Health Systems, Inc. (NYSE: CYH) announced today that certain subsidiaries of the Company have completed the sale of 351-bed Tennova Healthcare – Cleveland in Cleveland, Tennessee, and certain related businesses to Hamilton Health Care System, Inc. for $160 million. Additional cash consideration may be received contingent upon potential changes to certain supplemental reimbursement programs. The transaction is effective August 1, 2024.

About Community Health Systems, Inc.

Community Health Systems, Inc. is one of the nation’s largest healthcare companies. The Company’s affiliates are leading providers of healthcare services, developing and operating healthcare delivery systems in 39 distinct markets across 15 states. The Company’s subsidiaries own or lease 70 affiliated hospitals with more than 11,000 beds and operate more than 1,000 sites of care, including physician practices, urgent care centers, freestanding emergency departments, occupational medicine clinics, imaging centers, cancer centers and ambulatory surgery centers.

The Company’s headquarters are located in Franklin, Tennessee, a suburb south of Nashville. Shares in Community Health Systems, Inc. are traded on the New York Stock Exchange under the symbol “CYH.” More information about the Company can be found on its website at www.chs.net.

Media Contact:

Tomi Galin

Executive Vice President, Corporate Communications, Marketing and Public Affairs

(615) 628-6607



Investor Contacts:

Kevin Hammons

President and Chief Financial Officer

(615) 465-7000



Anton Hie

Vice President – Investor Relations

(615) 465-7012

Source: Community Health Systems, Inc.

FAQ

How much did Community Health Systems sell Tennova Healthcare – Cleveland for?

Community Health Systems sold Tennova Healthcare – Cleveland for $160 million to Hamilton Health Care System.

When is the effective date of the Tennova Healthcare – Cleveland sale by CYH?

The sale of Tennova Healthcare – Cleveland by Community Health Systems (CYH) is effective August 1, 2024.

What is the bed capacity of the hospital CYH sold in Cleveland, Tennessee?

The hospital sold by Community Health Systems (CYH) in Cleveland, Tennessee, has a bed capacity of 351 beds.

Is there potential for additional payment in the CYH hospital sale?

Yes, the sale agreement includes the possibility of additional cash consideration contingent upon potential changes to certain supplemental reimbursement programs.

Who purchased the Cleveland, Tennessee hospital from Community Health Systems (CYH)?

Hamilton Health Care System purchased the Cleveland, Tennessee hospital from Community Health Systems (CYH).

Community Health Systems, Inc.

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