Community Health Systems Announces Definitive Agreement to Divest Five Pennsylvania Hospitals

Wednesday, May 31, 2017

Community Health Systems, Inc. announced that subsidiaries of the Company have signed a definitive agreement to sell five Pennsylvania hospitals and their associated assets to subsidiaries of Reading Health System. Hospitals included in the transaction are 169-bed Brandywine Hospital in Coatesville, 148-bed Chestnut Hill Hospital in Philadelphia, 63-bed Jennersville Hospital in West Grove, 151-bed Phoenixville Hospital in Phoenixville and 232-bed Pottstown Memorial Medical Center in Pottstown.

The transaction is expected to close in the third quarter of 2017, subject to customary regulatory approvals and closing conditions. The five hospitals included in this transaction are part of the 30 planned hospital divestitures discussed on the Company’s first quarter earnings call.