An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
Community Health Systems Completes Divestiture of Hospital Located in Ronceverte, West Virginia
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary
Community Health Systems, Inc. (NYSE: CYH) has completed the divestiture of the 122-bed Greenbrier Valley Medical Center in Ronceverte, West Virginia. This transaction, which includes associated assets and outpatient services, became effective on January 1, 2023. The divestiture was referenced during the company's third quarter 2022 earnings call as part of potential transactions. Community Health Systems operates 79 affiliated hospitals across 16 states, providing a wide range of healthcare services.
Positive
Completion of divestiture may enhance operational focus and financial flexibility.
Transaction aligns with strategic goals outlined in previous earnings calls.
Negative
Divesting of hospital assets may impact revenue generation from that facility.
Potential loss of patient base and market share in West Virginia.
FRANKLIN, Tenn.--(BUSINESS WIRE)--
Community Health Systems, Inc. (NYSE: CYH) announced today that affiliates of the Company have completed the divestiture of 122-bed Greenbrier Valley Medical Center in Ronceverte, West Virginia, along with its respective assets, physician clinic operations and outpatient services to a subsidiary of Vandalia Health. The transaction was effective January 1, 2023.
The divestiture of this hospital is among the potential transactions highlighted on the Company’s third quarter 2022 earnings call.
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 47 distinct markets across 16 states. The Company’s subsidiaries own or lease 79 affiliated hospitals with approximately 13,000 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. Shares in Community Health Systems, Inc. are traded on the New York Stock Exchange under the symbol “CYH.” The Company’s headquarters are located in Franklin, Tennessee, a suburb south of Nashville. More information about the Company can be found on its website at www.chs.net.
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995 that involve risk 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, including the Company’s annual report on Form 10-K, current reports on Form 8-K and quarterly reports on Form 10-Q. These filings identify important risk factors and other uncertainties that could cause actual results to differ from those contained in the forward-looking statements. The Company undertakes no obligation to revise or update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.
