Community Health Systems, Inc. (NYSE: CYH) announced today that its subsidiary has executed a definitive agreement to acquire substantially all of the assets of Moses Taylor Health Care System, located in northeast Pennsylvania. The system includes 217-bed Moses Taylor Hospital in Scranton and 25-bed Mid-Valley Hospital in Peckville. The transaction is subject to customary federal and state regulatory approvals, including review and approval by the Attorney General of the Commonwealth of Pennsylvania.
Currently, thirteen Community Health Systems, Inc. affiliated hospitals serve Pennsylvania communities, including recently acquired facilities in Scranton, Wilkes-Barre and other surrounding cities.
Commenting on today’s announcement, Wayne T. Smith, chairman, president and chief executive officer of Community Health Systems, Inc., said, “The acquisition of Moses Taylor Health Care System will provide a compelling opportunity to expand our operations in northeast Pennsylvania. We look forward to working with the system’s outstanding physicians and employees, who are part of a century-long tradition of providing high-quality, compassionate care for patients. We also look forward to new opportunities for collaboration, sharing of best practices, resources and expertise as we continue to expand and enhance the health services available in this region.”
Located in the Nashville, Tennessee, suburb of Franklin, Community Health Systems, Inc. is one of the largest publicly-traded hospital companies 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 133 hospitals in 29 states with an aggregate of approximately 19,500 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 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.”
Statements contained in this news release regarding expected operating results, acquisition transactions or divestitures and other events are forward-looking statements that involve risk 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, including the Company’s annual report on Form 10-K, current reports on Form 8-K and quarterly reports on Form 10-Q. These filings identify important risk factors and other uncertainties that could cause actual results to differ from those contained in the forward-looking statements. The Company undertakes no obligation to revise or update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.