FRANKLIN, Tenn.--(EON: Enhanced Online News)--Community Health Systems, Inc. (NYSE:CYH) announced today that a subsidiary of the Company has completed the sale of a majority ownership interest in the Company’s Home Health division to a subsidiary of Almost Family, Inc. (NASDAQ: AFAM) for $128 million, subject to a working capital adjustment. The effective date of the transaction is December 31, 2016.
This transaction is one of the seven discussed on the Company’s third quarter 2016 earnings call. Net proceeds will be applied to pay down debt.
About Community Health Systems, Inc.
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 communities across the country. The Company, through its subsidiaries, owns, leases or operates 158 affiliated hospitals in 22 states with an aggregate of nearly 27,000 licensed beds. The Company’s headquarters are located in Franklin, Tennessee, a suburb south of Nashville. 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 on its website at www.chs.net.
Statements contained in this news release regarding potential transactions, operating results, 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.