FRANKLIN, Tenn.--(BUSINESS WIRE)-- Community Health Systems, Inc. (the “Company”) (NYSE: CYH) announced that its wholly-owned subsidiary, CHS/Community Health Systems, Inc. (the “Issuer”) on March 7, 2012, has (i) increased the amount it will purchase in its previously announced cash tender offer of the Issuer’s 8⅞% Senior Notes due 2015 (the “2015 Notes”) to be up to $850,000,000 aggregate principal amount outstanding (the “Tender Cap”) of the 2015 Notes, (ii) extended the original early tender deadline to midnight, New York City time, on March 20, 2012, unless further extended or earlier terminated (such date and time, as the same may be further extended or earlier terminated, the “Early Tender Deadline”) and (iii) extended the original withdrawal deadline to midnight, New York City time, on March 20, 2012, unless extended or earlier terminated (such date and time, as the same may be further extended or earlier terminated, the “Withdrawal Deadline”) in its cash tender offer for the 2015 Notes on the terms and subject to the conditions set forth in the Issuer’s Offer to Purchase Statement dated March 7, 2012, and the Supplement thereto dated March 7, 2012. Except for the changes relating to the Tender Cap, Early Tender Deadline and Withdrawal Deadline described above, all other terms of the Issuer’s Offer to Purchase Statement remain the same.
The Issuer has retained Credit Suisse Securities (USA) LLC to act as Dealer Manager in connection with the tender offer. Questions about the tender offer may be directed to Credit Suisse Securities (USA) LLC at (800) 820-1653 (toll free) or (212) 538-2147 (collect). Copies of the tender offer documents and other related documents may be obtained from D.F. King & Co., Inc, the information agent for the tender offer, at (800) 488-8095 (toll free) or (212) 269-5550 (collect).
The tender offer is being made solely by means of the tender offer documents. Under no circumstances shall this press release constitute an offer to purchase or the solicitation of an offer to sell the 2015 Notes or any other securities of the Issuer or any other person, nor shall there be any offer or sale of any 2015 Notes or other securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No recommendation is made as to whether holders of the 2015 Notes should tender their 2015 Notes.
About Community Health Systems, Inc.
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 134 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 press release regarding the proposed transactions 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.
Community Health Systems, Inc.
W. Larry Cash, 615-465-7000
Executive Vice President
and Chief Financial Officer
KEYWORDS: United States North America Tennessee
INDUSTRY KEYWORDS: Health Hospitals