Community Health Systems Completes Kirksville, Missouri Transaction.Business Editors/Health & Medical Writers BRENTWOOD, Tenn.--(BW HealthWire)--Dec. 1, 2000 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 acquisition and commencement of operations of Northeast Regional Medical Center, a 164-bed acute care facility located in Kirksville, Missouri Kirksville is a city in Adair County, Missouri, United States. The population was 16,988 at the 2000 census. It is the county seat of Adair CountyGR6. Kirksville also anchors a micropolitan area that is comprised of Adair and Schuyler counties. . The facility is the sole community provider of hospital services in Adair County, which is located approximately 100 miles north of Columbia, Missouri. The transaction consisted of a long-term lease of the facility from Kirksville College of Osteopathic Medicine The A.T. Still University Kirksville College of Osteopathic Medicine, located in Kirksville, Missouri, is the founding institution of osteopathic medicine. Founded in 1892 by Dr. , the oldest and one of the most prestigious osteopathic os·te·op·a·thy n. A system of medicine based on the theory that disturbances in the musculoskeletal system affect other bodily parts, causing many disorders that can be corrected by various manipulative techniques in conjunction with conventional medical schools in the country, and a purchase of operating and capital assets capital assets n. equipment, property, and funds owned by a business. (See: capital, capital account) from Northeast Regional Health System. "This acquisition furthers our key strategy of selectively acquiring sole providers of community hospital services," said Wayne T. Smith, President and Chief Executive Officer of Community Health Systems, Inc. "The additional features of this particular facility, including the strength and depth of its existing medical staff, the scope of services provided, and the regional nature of this healthcare system combined with CHS' healthcare expertise should enable us to meet the health care needs of the community and our operating strategy. The proximity to our facility in Moberly, Missouri, approximately 60 miles away, and the teaching institution affiliation will also complement other 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). operating strategies and objectives." 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 52 hospitals in 20 states. Its 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 newly 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 registration statement on Form S-1 (Registration No. 333-47354), as declared effective by the Securities and Exchange Commission on October 30, 2000. |
|
||||||||||||||

Printer friendly
Cite/link
Email
Feedback
Reader Opinion