Community Health Systems, Inc. (NYSE: CYH) announced today that a subsidiary has executed a definitive agreement to acquire substantially all of the assets of Tomball Regional Medical Center, located in Tomball, Texas, a rapidly growing community approximately 30 miles northwest of Houston. The 358-bed hospital provides a full array of healthcare services and sits on a 155-acre campus that also includes a cancer center, heart center, women’s health center, outpatient surgery centers, and sports medicine center. The transaction is subject to customary regulatory approvals. When the acquisition is complete, Tomball Regional Medical Center will become the 19th Community Health Systems, Inc. affiliated hospital in Texas.
Commenting on today’s announcement, Wayne T. Smith, chairman, president and chief executive officer of Community Health Systems, Inc., said, “We are delighted that after a comprehensive review of strategic alternatives and potential partners, Tomball Regional Medical Center has chosen to affiliate with our organization. The hospital has earned numerous clinical distinctions and we believe it will complement our ongoing commitment to deliver quality healthcare to Texas communities. We look forward to deploying our resources and operating strategies as we join with the hospital’s medical staff and employees to serve the future healthcare needs of this growing 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.