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Community Health Systems, Inc. Announces the Closing of a Transaction with Spokane, Washington-Based Multi-Specialty Clinic

^{Published on 2010-01-04 10:30:40 - Market Wire}
 

FRANKLIN, Tenn.--([ BUSINESS WIRE ])--Community Health Systems, Inc. (NYSE: CYH) announced today that a subsidiary has closed on its transaction with Rockwood Clinic, P.S., a multi-specialty clinic with 32 locations across the Inland Northwest region of the State of Washington. Rockwood Clinic and two Community Health Systems, Inc. affiliated hospitals, Deaconess Medical Center and Valley Hospital and Medical Center, will work together to develop a fully-integrated healthcare delivery system, offering hospital services, primary care and specialty medicine physician practices, ambulatory surgery centers, urgent care facilities, and outpatient imaging. The transaction closed effective December 31, 2009.

"This affiliation brings together major healthcare providers with long-standing traditions of caring for their communities and a shared vision of integrating their services into a quality-focused, patient-friendly healthcare system"

"This affiliation brings together major healthcare providers with long-standing traditions of caring for their communities and a shared vision of integrating their services into a quality-focused, patient-friendly healthcare system," said Wayne T. Smith, chairman, president and chief executive officer of Community Health Systems, Inc. "Working together, Rockwood Clinic, Deaconess Medical Center and Valley Hospital can have a positive impact on healthcare for the entire region."

Located in the Nashville, Tennessee, suburb of Franklin, Community Health Systems, Inc. is the largest publicly-traded hospital company 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 122 hospitals in 29 states with an aggregate of approximately 18,000 licensed beds. Its hospitals offer a broad range of inpatient and surgical services, outpatient treatment and skilled nursing care. In addition, through its QHR subsidiary, the Company provides management and consulting services to over 150 independent 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 are forward-looking statements that involve risks 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, specifically the most recent filings which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements, including execution of our growth, acquisition, and business strategies.These and other applicable risks are summarized under the caption "risk factors" in the Company's Securities and Exchange Commission filings.