COMMUNITY HEALTH SYSTEMS INC (CYH): M&A transaction — Community Health Systems completes sale of Tennova Healthcare-Cleveland for $160M

COMMUNITY HEALTH SYSTEMS INC

Base purchase price of $160M in cash received at preliminary closing on July 31, 2024.
Additional contingent consideration possible from potential changes to supplemental reimbursement programs.
Sale includes 351-bed hospital in Cleveland, TN and related businesses to Hamilton Health Care System.
Pro forma net loss per share widens to $0.44 for six months ended June 30, 2024 (from $0.42 reported).

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

COMMUNITY HEALTH SYSTEMS INC completed a disposition involving Hamilton Health Care System, Inc. and certain of its affiliates for approximately $160 million in cash (closed 2024-08-01).

Action: disposition
Counterparty: Hamilton Health Care System, Inc. and certain of its affiliates
Consideration: approximately $160 million in cash
Closing: 2024-08-01

Exact text from the filing

in connection with the Transactions at a preliminary closing on July 31, 2024, after giving effect to estimated working capital and purchase price adjustments, was approximately $160 million in cash (subject to a post-closing working capital adjustment). In addition to the base purchase price set forth above, the Purchase Agreement provides that the Purchaser is

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Source: SEC EDGAR

accession 0000950170-24-089339

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