February 10, 2011 at 16:01 PM EST
Community Health Systems Announces Definitive Agreement to Acquire Northeast Pennsylvania Health System

Community Health Systems, Inc. (NYSE: CYH) announced today that its subsidiary has executed a definitive agreement to acquire substantially all of the assets of Mercy Health Partners, located in northeast Pennsylvania, from Cincinnati-based Catholic Health Partners. The health system includes two full service acute care hospitals, 198-bed Mercy Hospital, Scranton, and 48-bed Mercy Tyler Hospital in Tunkhannock. The system also includes Mercy Special Care Hospital, a 67-bed long-term acute care hospital located in Nanticoke, and other outpatient and ancillary services. The transaction is subject to customary federal and state regulatory approvals, including review and approval by the Attorney General of the Commonwealth of Pennsylvania.

Commenting on today’s announcement, Wayne T. Smith, chairman, president and chief executive officer of Community Health Systems, Inc., said, “Mercy Health Partners has a long and rich tradition of serving communities in northeast Pennsylvania. We look forward to joining with their physicians and employees in their continued commitment to provide high-quality, compassionate care. From a company perspective, we are excited about the opportunity to grow our presence in Pennsylvania. At the successful completion of this transaction, twelve Community Health Systems affiliated hospitals will be providing health services for communities across the state.”

Located in the Nashville, Tennessee, suburb of Franklin, Community Health Systems, Inc. is the largest publicly traded hospital company in the United States and a leading operator of general acute care hospitals in non-urban and mid-size markets throughout the country. Through its subsidiaries, the company currently owns, leases or operates 126 hospitals in 29 states with an aggregate of approximately 19,400 licensed beds. Its hospitals offer a broad range of inpatient and surgical services, outpatient treatment and skilled nursing care. In addition, through its subsidiary Quorum Health Resources, LLC, the company provides management and consulting services to approximately 150 independent non-affiliated general acute care hospitals located throughout the United States. Shares in Community Health Systems, Inc. are traded on the New York Stock Exchange under the symbol “CYH.” More information about the company can be found at www.chs.net.

Statements contained in this news release about acquisition transactions 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.

Contacts:

Community Health Systems, Inc.
Investor Contact:
W. Larry Cash, 615-465-7000
Executive Vice President and Chief Financial Officer
or
Media Contact:
Tomi Galin, 615-628-6607
Vice President, Corporate Communications
Related Stocks:
Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here