Community Health Systems Withdraws Offer for Tenet

FRANKLIN, Tenn., May 09, 2011 (BUSINESS WIRE) -- Community Health Systems, Inc. (NYSE: CYH) ("CHS") today announced that it has withdrawn its offer to acquire all of the outstanding shares of common stock of Tenet Healthcare Corporation (NYSE: THC) for $7.25 per share in cash. CHS has also withdrawn its nominees for election to Tenet's Board of Directors at Tenet's 2011 annual meeting. 

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 133 hospitals in 29 states with an aggregate of approximately 19,500 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 approximately 150 independent non-affiliated general acute care hospitals located throughout the United States.

SOURCE: Community Health Systems, Inc.

Community Health Systems, Inc.
Media Contact:
Tomi Galin, 615-628-6607
VP - Corporate Communications
or
Investor Contacts:
W. Larry Cash, 615-465-7000
EVP & CFO
or
Lizbeth Schuler, 615-465-7000
VP - Investor Relations

Suggested Articles

The profit margins and management of Community Health Group raise questions about oversight of managed care insurers.

Financial experts are warning practices about the pitfalls of promoting medical credit cards to their patients.

A proposed rule issued by HHS on Tuesday would expand short-term coverage, a move Seema Verma said will have "virtually no impact" on ACA premiums.