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Community Health Systems Announces Definitive Agreement to Divest Anniston, Alabama Hospital

FRANKLIN, Tenn.--(BUSINESS WIRE)--

Community Health Systems, Inc. (CYH) announced today that subsidiaries of the Company have signed a definitive agreement to sell 125-bed Stringfellow Memorial Hospital in Anniston, Alabama, to The Health Care Authority of the City of Anniston. The purchase price of $25 million includes assumption of the approximately $13 million facility lease.

The transaction is expected to close in the second quarter of 2017, subject to customary regulatory approvals and closing conditions, as well as a financing contingency. This transaction is one of the 25 transactions discussed on the Company’s fourth quarter and year-end 2016 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 158 affiliated hospitals in 22 states with an aggregate of approximately 26,000 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.

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