Community Health Systems Acquires Two Hospitals From Alabama Baptist Health System.BRENTWOOD, Tenn. -- 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 two hospitals from the Baptist Health System, Birmingham, Alabama Birmingham (pronounced [ˈbɝmɪŋˌhæm]) is the largest city in the U.S. state of Alabama and is the county seat of Jefferson County. : Baptist Medical Center - DeKalb and Baptist Medical Center - Cherokee. Both hospitals are the sole providers of hospital services in their communities and will be renamed DeKalb Regional Medical Center and Cherokee Medical Center, respectively. The transaction was effective on April 1, 2006. "This acquisition furthers our key strategy of selectively acquiring health care providers in communities that can benefit from our operating strategies," said Wayne T. Smith, chairman, president and chief executive officer of Community Health Systems, Inc. "Recruiting additional physicians and implementing our standardized and centralized cen·tral·ize v. cen·tral·ized, cen·tral·iz·ing, cen·tral·iz·es v.tr. 1. To draw into or toward a center; consolidate. 2. operating programs will enable residents of these communities to obtain more of their healthcare `at home'. We look forward to working with the dedicated employees and licensed professionals in each of these Alabama communities." 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 73 hospitals in 21 states. Its 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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