Community Health Systems (CYH) Tops Q2 EPS by 25c, Offers FY Guidance; to Spin-Off 38 Hospitals and Quorum Health Resources
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Community Health Systems, Inc. Announces Second Quarter 2015 Results with Net Operating Revenues of $4.882 Billion
August 3, 2015 4:30 PM EDTFRANKLIN, Tenn.--(BUSINESS WIRE)-- Community Health Systems, Inc. (NYSE: CYH) (the Company) today announced financial and operating results for the three and six months ended June 30, 2015.
The operating results of Health Management Associates, Inc. (HMA) are included in the Companys consolidated results and statistical data from January 27, 2014, the date the Company completed its acquisition of HMA. For hospitals acquired in the HMA merger, same-store operating results and statistical data reflect the periods from January 1 through June 30, 2015 and 2014, as if such hospitals were owned during both comparable six-month periods. The Company had previously restated... More
Community Health Systems Announces Plans to Spin off 38 Hospitals and Quorum Health Resources
August 3, 2015 4:30 PM EDTFRANKLIN, Tenn.--(BUSINESS WIRE)-- Community Health Systems, Inc. (NYSE: CYH) (the Company) announced today that it plans to create a new publicly traded hospital company by spinning off to Community Health Systems stockholders a group of 38 hospitals and Quorum Health Resources, LLC, a leading hospital management and consulting business. The new company will be named Quorum Health Corporation to leverage the existing strength of the Quorum brand. The spin-off is intended to be tax-free to Community Health Systems and its stockholders and is expected to be completed in the first quarter of 2016.
Quorum... More
