Community Health Systems Acquires 299-Bed Hospital in Pottstown, Pennsylvania.Business Editors/Health/Medical Writers BRENTWOOD, Tenn.--(BUSINESS WIRE)--July 1, 2003 Community Health Systems, Inc. (NYSE NYSE See: New York Stock Exchange :CYH CYH Check Your Head (youth driven organization in Canada) CYH Consider Yourself Hugged ) announced today the consummation of the acquisition of Pottstown Memorial Medical Center, located 55 miles west of Philadelphia and 25 miles east of Reading, Pennsylvania Reading (IPA:/ˈrɛdɪŋ/) is the county seat of Berks County, Pennsylvania and the center of the Greater Reading Area. . The 299-bed facility was acquired from a local not-for-profit 501(c)(3) organization and is the only general acute care hospital in Pottstown. "Pottstown Memorial Medical Center represents a very desirable acquisition target for Community Health Systems as we continue to execute our very focused and disciplined acquisition strategy," said Wayne T. Smith, chairman, president and chief executive officer of Community Health Systems, Inc. "The geographic location, demographics The attributes of people in a particular geographic area. Used for marketing purposes, population, ethnic origins, religion, spoken language, income and age range are examples of demographic data. , growth potential, services offered, and community relationships are ideal for the implementation of our operating and market growth strategies. Pottstown Memorial Medical Center enjoys an excellent reputation for high quality healthcare services. We look forward to continuing that tradition and to developing additional services and resources for the benefit of the healthcare community and residents of Pottstown." Located in the Nashville, Tennessee “Nashville” redirects here. For other uses, see Nashville (disambiguation). Nashville is the capital and the second most populous city of the U.S. state of Tennessee, after Memphis. , suburb of Brentwood, Community Health Systems is a leading operator of general acute care hospitals in non-urban communities throughout the country. Through its subsidiaries, the company currently owns, leases or operates 71 hospitals in 22 states. In addition to Pottstown Memorial Medical Center, Community Health Systems affiliates own and operate facilities in the following Pennsylvania communities: Berwick, Coatesville, West Grove, Easton, and Lock Haven Lock Haven, industrial city (1990 pop. 9,230), seat of Clinton co., N central Pa., on the West Branch of the Susquehanna River at the junction of Bald Eagle Creek, in an agricultural area; settled 1769, inc. as a city 1870. A lumber center in the 19th cent. . Community Health Systems hospitals offer a broad range of inpatient and outpatient medical and surgical services. Shares in Community Health Systems, Inc. are traded on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol "CYH." Statements contained in this news release are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve risks 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, specifically the most recent filings which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements, including execution of our growth, acquisition, and business strategies. These and other applicable risks are summarized under the caption "risk factors" in the Company's Securities and Exchange Commission filings. |
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