Community Health Systems, Inc. - CYH STOCK NEWS

Community Health Systems, Inc. (NYSE: CYH) announced a webcast of its first quarter 2023 conference call. The results will be released on May 1, 2023, after market close, with the call taking place on May 2, 2023, at 10:00 a.m. Central time (11:00 a.m. Eastern time). The call will cover the company's financial and operational results for the quarter ending March 31, 2023. Interested parties can access the webcast live at www.chs.net. A replay will be available for 30 days post-call.

Community Health Systems operates 78 affiliated hospitals and over 1,000 care sites across 15 states, making it one of the largest healthcare providers in the U.S. For further details, visit www.chs.net.

Community Health Systems (NYSE: CYH) announced the divestiture of Plateau Medical Center in Oak Hill, West Virginia for approximately $92 million, effective April 1, 2023. This transaction includes the hospital's assets, physician clinic operations, and outpatient services, and is part of a broader strategy discussed during the Company’s fourth quarter and year-end 2022 earnings call. Community Health Systems continues to operate 78 hospitals and over 1,000 sites of care across multiple states.

Community Health Systems (NYSE: CYH) marked National Doctors’ Day by donating $216,100 to various charities, enhancing their commitment to community welfare. This initiative reflects appreciation for physicians while tackling social determinants of health. Additionally, they launched the Jars of Love Peanut Butter Drive, collecting over 64,000 jars of peanut butter to combat food insecurity affecting over 34 million Americans. CEO Tim L. Hingtgen emphasized the organization’s role in improving community health beyond direct patient care. CHS operates 79 hospitals and over 1,000 care sites nationwide, promoting holistic health solutions.

Novant Health signed a definitive agreement to acquire Lake Norman Regional Medical Center and Davis Regional Medical Center, along with their related operations, from Community Health Systems (NYSE: CYH). The acquisition aims to enhance community health and provide patient-centered care, expanding Novant Health's regional network. The transaction, expected to close later this year, is subject to regulatory approvals. CEO Carl S. Armato emphasized the commitment to delivering quality care and creating opportunities for medical education and research as part of this strategic move.

Community Health Systems, Inc. (NYSE: CYH) announced the signing of a definitive agreement to sell Lake Norman Regional Medical Center in Mooresville, NC, and Davis Regional Medical Center in Statesville, NC, to Novant Health for approximately $320 million. The sale includes a 123-bed acute care hospital and a facility transitioning to inpatient behavioral health. This transaction is expected to close later this year, pending regulatory approvals. These hospitals were mentioned as potential divestitures in the Company’s Q4 2022 earnings call.

Community Health Systems (NYSE: CYH) reported its Q4 and full-year results for 2022, highlighting net revenues of $3.142 billion, down 2.8% YoY, and a net income of $414 million, or $3.18 per diluted share, compared to $178 million, or $1.34 per share in Q4 2021. Excluding adjustments, net income was $1.50 per share, up from $1.15. Adjusted EBITDA for Q4 was $404 million, marking a 25.2% decline YoY. For the full year, total revenues reached $12.211 billion, a decrease of 1.3%, with a net income of $46 million or $0.35 per diluted share, significantly down from $230 million or $1.76 in 2021. The company is optimistic for 2023, expecting improved operational performance.

Community Health Systems (NYSE:CYH) has announced its fourth quarter and year-end 2022 conference call scheduled for February 16, 2023, at 10:00 a.m. Central time. A press release disclosing financial results will be issued on February 15, 2023, after market close. The live webcast will be available at www.chs.net, with a replay accessible for 30 days post-call. Community Health Systems operates 79 hospitals and over 1,000 care sites, serving 45 markets across 16 states, making it one of the largest healthcare providers in the U.S.

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.

Community Health Systems (NYSE:CYH) announced that Wayne T. Smith will retire as Executive Chairman effective January 1, 2023. He will remain as non-executive Chairman. This change is part of a leadership succession plan initiated in January 2021. Smith has been pivotal in transforming the company into a major healthcare provider, overseeing its growth to over 80 acute-care hospitals and 1,000 outpatient sites in 16 states over nearly 26 years of leadership. Tim L. Hingtgen continues as CEO, appreciating Smith's significant contributions.