Community Health Systems Completes Divestiture of St. Petersburg, Florida Hospital
Community Health Systems (NYSE: CYH) has completed the sale of Bayfront Health St. Petersburg, a 480-bed facility, to Orlando Health. This divestiture, effective October 1, 2020, aligns with the company's strategy discussed during its Q2 2020 earnings call. Following the sale, Community Health Systems will continue to operate 11 hospitals in Florida. The company remains one of the largest publicly traded hospital operators in the United States, with 92 affiliated hospitals across 16 states.
- Successful divestiture of Bayfront Health St. Petersburg, freeing up capital.
- Continues to operate 11 hospitals in Florida, maintaining a significant presence in the state.
- None.
FRANKLIN, Tenn.--(BUSINESS WIRE)--Community Health Systems, Inc. (NYSE: CYH) announced today that an affiliate of the Company has completed the sale of 480-bed Bayfront Health St. Petersburg in St. Petersburg, Florida, and its associated assets to a subsidiary of Orlando Health which has assumed responsibility for the long-term lease and operations of the hospital. The effective date of the transaction is October 1, 2020. With the divestiture completed, Community Health Systems affiliates continue to operate 11 hospitals in Florida.
The hospital in this transaction is among the planned divestitures discussed on the Company’s second quarter 2020 earnings call.
About Community Health Systems, Inc.
Community Health Systems, Inc. is one of the largest publicly traded hospital companies in the United States and a leading operator of general acute care hospitals in communities across the country. The Company, through its subsidiaries, owns, leases or operates 92 affiliated hospitals in 16 states with an aggregate of approximately 15,000 licensed beds. 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.
Forward-Looking Statements
Statements contained in this news release regarding potential transactions, operating results, and other events are forward-looking statements 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.
