Community Health Systems to Acquire Anna, Illinois Hospital.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 execution of a definitive agreement to acquire Union County Hospital, located in Anna, Illinois. The 25-bed facility is the only acute care hospital in its community and has been managed by a Community Health Systems' subsidiary on behalf of the local hospital district since 2001. Anna, Illinois, is 25 miles southwest of Marion, Illinois, where the company's facility, Heartland Medical Regional Medical Center, is located. The transaction is structured as a long-term lease of the facility and a purchase of other assets other assets Assets of relatively small value. For financial reporting purposes, firms frequently combine small assets into a single category rather than listing each item separately. and is subject to customary regulatory approvals. Closing of the transaction is expected prior to the end of the year. The facility provides emergency services emergency services Emergency care '…services …necessary to prevent death or serious impairment of health and, because of the danger to life or health, require the use of the most accessible hospital available and equipped to furnish those services' , cardiopulmonary cardiopulmonary /car·dio·pul·mo·nary/ (kahr?de-o-pool´mah-nar-e) pertaining to the heart and lungs. car·di·o·pul·mo·nar·y adj. Of, relating to, or involving both the heart and the lungs. and other rehabilitation services, as well as home health care and long-term care long-term care (LTC), n the provision of medical, social, and personal care services on a recurring or continuing basis to persons with chronic physical or mental disorders. services. "Our five-year relationship with the Union County Hospital District has been mutually beneficial and we are looking forward to taking it to the next level," said Wayne T. Smith, chairman, president and chief executive officer of Community Health Systems, Inc. Located in the Nashville, Tennessee, 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 76 hospitals in 22 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 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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