Community Health Systems to Acquire Chestnut Hill 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 Chestnut Hill Chestnut Hill may refer to: In geography:
n. A living arrangement in which people with special needs, especially older people with disabilities, reside in a facility that provides help with everyday tasks such as bathing, dressing, and taking medication. facility. The University of Pennsylvania Health System The University of Pennsylvania Health System is a diverse research and clinical care organization in Philadelphia, Pennsylvania that operates under the direction and auspices of the University of Pennsylvania, its umbrella organization Penn Medicine and the University of will have a 15% minority interest in this transaction. The acquisition is subject to federal and state regulatory approvals and is expected to close as soon as practicable after the approvals are obtained. "We are very pleased to bring this hospital into our Pennsylvania family and look forward to working with the University of Pennsylvania (body, education) University of Pennsylvania - The home of ENIAC and Machiavelli. http://upenn.edu/. Address: Philadelphia, PA, USA. ," said Wayne T. Smith, chairman, president and chief executive officer of Community Health Systems, Inc. "The addition of clinical services supported by the University of Pennsylvania Health System will likewise benefit all Community stakeholders." 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 71 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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