- American City Business Journals•3 months ago
Franklin-based Community Health Systems just spun out 38 hospitals and its business consulting subsidiary into a brand-new public company. With its early 2014 purchase of Florida-based Health Management Associates, CHS (CYH) leapfrogged Nashville-based neighbor HCA Holdings Inc. (HCA) to become the nation's largest hospital company by facility count. Now, following the spinout of 38 hospitals into Quorum Health Corp., the company is back to No. 2, with its 160 hospitals likely to shrink to between 140 and 150 by year-end, CEO Wayne Smith told investors and analysts in a conference call Tuesday.
- American City Business Journals•5 months ago
As of midday Tuesday, shares of Community Health Systems were trading just under $14, giving the company a market capitalization of about $1.6 billion. Compare that to $64 shares and a market cap around $7 billion in late June, and you'll have a pretty good sense of how the second half of 2015 went for the Franklin-based hospital operator, one of the region's largest employers. CHS (NYSE) took a hit in October, when a weak third quarter affected much of the health care sector.
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