Publicly traded Community Health Systems Inc. has acquired substantially all of the assets of Moses Taylor Health Care System, a privately held company based in Pennsylvania. Terms of the deal, which closed January 1, were not released.
Community Health Systems, Inc. CYH +2.65% announced today that its subsidiaries have acquired substantially all of the assets of Moses Taylor Health Care System, located in northeast Pennsylvania. The acquisition was effective January 1, 2012. Moses Taylor Health Care System includes 217-bed Moses Taylor Hospital in Scranton and 25-bed Mid-Valley Hospital in Peckville. This acquisition expands the Company’s portfolio of affiliated hospitals serving northeast Pennsylvania to eight and increases the total number of affiliated hospitals in Pennsylvania to sixteen.
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 strengthens our network in northeast Pennsylvania and provides additional opportunities to develop a regional approach to the delivery of health services through collaboration, shared resources, and the development of best practices for operational and clinical excellence. We look forward to working with the medical staff and employees of Moses Taylor Health Care System in support of their commitment to provide high-quality care for their community.”
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 20,000 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.