Community Health Systems to Acquire Sunbury Community 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 123-bed Sunbury Community Hospital, located in Sunbury, Pennsylvania Sunbury is a city in Northumberland County, Pennsylvania, United States. The population was 10,610 at the 2000 census. It is the county seat of Northumberland CountyGR6. . Sunbury is located on the Susquehanna River Susquehanna River River, central New York, Pennsylvania, and Maryland, U.S. One of the longest rivers in the eastern U.S., it is about 444 mi (715 km) long. It rises in Otsego Lake, central New York, and winds through the Appalachian Mountains before flowing into northern , approximately 50 miles north of Harrisburg. The transaction is subject to state regulatory approvals and customary closing conditions and is expected to close early in the fourth quarter of 2005. "Sunbury Community Hospital fits neatly within our strategic acquisition model," said Wayne T. Smith, chairman, president and chief executive officer of Community Health Systems, Inc. "We believe the hospital and the community will benefit from our operational expertise, access to capital, and ability to grow organically. Capital investment and the expansion of services will benefit both the residents and the community as a whole by providing services close to home and enhancing the vibrant local economy." 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 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 69 hospitals in 21 states, eight of which are in Pennsylvania. 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 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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