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Community Health Systems : Announces Divestiture of Assets in Payson, Arizona

08/12/2015 | 11:14am US/Eastern

By a News Reporter-Staff News Editor at Health & Medicine Week -- Community Health Systems, Inc. (NYSE:CYH) announced that subsidiaries of the Company have completed the sale of substantially all of the assets of Payson Regional Medical Center in Payson, Arizona, and related outpatient services to Banner Health. The transaction follows the termination of a lease agreement with Mogollon Health Alliance and is effective July 31, 2015 (see also Community Health Systems, Inc.).

The Company does not expect the transaction to have a meaningful impact on financial operations. With the divestiture of Payson Regional Medical Center, subsidiaries of the Company continue to operate three hospitals in Arizona. Forward-Looking Statements Statements contained in this news release regarding expected operating results, acquisition transactions or divestitures 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. 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. Through its subsidiaries, the Company currently owns, leases or operates 198 affiliated hospitals in 29 states with an aggregate of approximately 30,000 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. View source version on businesswire.com: http://www.businesswire.com/news/home/20150731005836/en/

Keywords for this news article include: Hospital.

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