secwatch.observer — SEC 8-K summary
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Issuer:     COMMUNITY HEALTH SYSTEMS INC (CYH)
CIK:        0001108109
Form:       8-K
Filed at:   2023-12-01T23:59:59+00:00
Accession:  0000950170-23-067384
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 2.01, 9.01, 7.01
LLM model:  deepseek-v4-flash:cloud@v2

Community Health Systems completes sale of three Florida hospitals to Tampa General for $294M cash
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- Divested Bravera Health hospitals: Brooksville (120 beds), Spring Hill (124 beds), and Seven Rivers (128 beds).
- Preliminary purchase price of ~$294M cash, after working capital adjustments; transaction effective Dec. 1, 2023.
- Pro forma gain on sale of $72M pre-tax ($61M net); net loss attributable to CHS stockholders widens by $19M for 9M ended Sep 30, 2023.
- Pro forma net operating revenues reduced by $228M (9M 2023) and $271M (FY 2022) from eliminated hospital operations.
- Sale excludes discontinued operations treatment; cash proceeds will be reflected on balance sheet as cash and accumulated deficit adjustment.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1108109/000095017023067384/0000950170-23-067384-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1108109/000095017023067384/cyh-20231201.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-067384

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