Community Health Systems Announces Acquisition of Salem, New Jersey Hospital; Company Now has 62 Hospitals in 22 States.Business Editors & Health/Medical Writers BRENTWOOD, Tenn.--(BUSINESS WIRE)--Sept. 30, 2002 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 ) today announced the acquisition of 140-bed Memorial Hospital of Salem County, located in rural southwestern New Jersey approximately 25 miles southeast of Wilmington, Delaware Wilmington is the largest city in the state of Delaware and is located at the confluence of the Christina River and Brandywine Creek, near where the Christina flows into the Delaware River. . The hospital was acquired from a local non-profit organization A non-profit organization (abbreviated "NPO", also "non-profit" or "not-for-profit") is a legally constituted organization whose primary objective is to support or to actively engage in activities of public or private interest without any commercial or monetary profit purposes. . "We are very excited about this acquisition and the opportunities to bring our growth and operational strategies and expertise to the Salem community," said Wayne T. Smith, chairman, president and chief executive officer of Community Health Systems, Inc. "We are pleased to be the first for-profit provider of acute care hospital services to enter the New Jersey market. We look forward to a successful association and to working with local community leaders and the dedicated healthcare professional staff and employees at this facility. Since 1997, we have acquired non-profit hospitals in seven new states, demonstrating that Community Health Systems is `the acquirer of choice' for this market sector." 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, 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 62 hospitals in 22 states. Community Health Systems' hospitals offer a broad range of inpatient and outpatient medical care and 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 regarding this recently acquired facility and other events 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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