Community Health Systems Completes Fourth Acquisition of 2002 With Addition of Lock Haven, Pennsylvania Hospital.Business Editors & Health/Medical Writers BRENTWOOD, Tenn.--(BW HealthWire)--Aug. 1, 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 197-bed 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. Hospital, the sole community provider of acute care hospital services in rural Clinton County, Pennsylvania Clinton County is a county located in the U.S. state of Pennsylvania. As of 2000, the population was 37,914. It is included in the Lock Haven, Pennsylvania Micropolitan Statistical Area. Its name is in honor of the seventh Governor of New York State, DeWitt Clinton. . Lock Haven is located in north central Pennsylvania, approximately 110 miles north of Harrisburg. 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 look forward to adding to and enhancing the health care services available to the residents of this rural community and working with the dedicated medical staff, employees and local leadership," said Wayne T. Smith, chairman, president and chief executive officer of Community Health Systems, Inc. "Lock Haven Hospital typifies the hospital and community that can truly benefit from our standardized and centralized strategies to provide capital, recruit physicians, and enhance the quality of care available. We are pleased to bring our proven model of successful hospital operations to this new community." Located in the Nashville, Tennessee 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 61 hospitals in 21 states. CHS (Cylinder Head Sector) An earlier method of addressing a hard disk by referencing all three physical elements of the drive. It was superseded by logical block addressing (see LBA). hospitals offer a broad range of inpatient medical and surgical services, outpatient treatment and skilled nursing care. 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 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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