Community Health Systems Completes Divestiture of Mooresville, North Carolina Hospital to Duke Health

Rhea-AI Summary

Community Health Systems (NYSE: CYH) has completed the sale of Lake Norman Regional Medical Center in Mooresville, North Carolina, and its related businesses to Duke University Health System. The transaction, which was first announced on December 11, 2024, closed on April 1, 2025, for a total consideration of $284 million.

Positive

• Received $284 million in cash from the divestiture
• Successfully completed strategic asset sale to strengthen financial position

Negative

• Loss of revenue stream from Lake Norman Regional Medical Center operations
• Reduction in company's healthcare facility portfolio and market presence in North Carolina

FRANKLIN, Tenn.--(BUSINESS WIRE)-- Community Health Systems, Inc. (NYSE: CYH) announced today that subsidiaries of the Company completed the divestiture of Lake Norman Regional Medical Center in Mooresville, North Carolina, and related businesses, to subsidiaries of Duke University Health System, Inc. for $284 million. The entry into the definitive agreement for this transaction was announced on December 11, 2024, and the closing was effective April 1, 2025.

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 36 distinct markets across 14 states. The Company’s subsidiaries own or lease 72 affiliated hospitals with more than 10,000 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250401725539/en/

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 Duke Health pay for Lake Norman Regional Medical Center (CYH)?

Duke Health paid $284 million for Lake Norman Regional Medical Center and related businesses.

When did Community Health Systems (CYH) complete the sale of Lake Norman Regional Medical Center?

The sale was completed on April 1, 2025.

What assets did Community Health Systems (CYH) sell to Duke Health in Mooresville?

CYH sold Lake Norman Regional Medical Center and related businesses in Mooresville, North Carolina.

When was the Lake Norman Regional Medical Center sale agreement first announced by CYH?

The definitive agreement was first announced on December 11, 2024.