Community Health Systems, Inc. (the "Company") (NYSE:CYH) today
announced a restructuring of its operating divisions and executive level
promotions. The changes precede the Company's pending acquisition of
Health Management Associates, Inc., which includes 71 hospitals and
approximately 575 clinic locations. That transaction is expected to
close by the end of January 2014, subject to customary closing
conditions and receipt of regulatory approvals. Following successful
completion of the transaction, the Community Health Systems organization
will expand from five to six geographically aligned operating divisions.
The new divisional structure and executive promotions are intended to
position the larger organization for long-term success during a period
of transformation for the Company and the healthcare industry. Community
Health Systems Professional Services Corporation employs each of these
executives and provides management and consulting services to the
W. Larry Cash has been named President of Financial Services and
Chief Financial Officer.Previously, Mr. Cash served as
Executive Vice President and Chief Financial Officer. Mr. Cash also
serves as a member of the Company's Board of Directors. Mr. Cash
oversees all aspects of the Company's financial operations, including
accounting, financial services, revenue management and treasury. He also
provides executive oversight for the Information Systems, Internal
Audit, Investor Relations, Managed Care and Risk Management departments.
David Miller has been named President and Chief Operating Officer.In
this new position for the organization, Mr. Miller will have executive
management responsibility for the organization's six operating
divisions, as well as responsibility for strategic growth initiatives.
Mr. Miller will lead efforts to effectively integrate hospitals acquired
as part of the Company's acquisition of Health Management Associates,
Inc. Mr. Miller previously served as President of Division I Operations.
Lynn Simon, M.D. has been named President, Clinical Services and
Chief Quality Officer.Dr. Simon will expand her leadership
responsibilities to include all aspects of clinical operations,
including clinical services, nursing, quality and safety and case
management. She will also oversee medical staff relations, physician
practice management, clinical integration initiatives and medical
informatics. Dr. Simon is a board-certified neurologist and previously
served as Senior Vice President and Chief Quality Officer.
Marty Schweinhart has been named Executive Vice President of
Administration.Mr. Schweinhartwill expand his leadership
responsibilities to include standardization and centralization of
business support strategies. He also oversees critical operational
support areas including, materials and capital management, facilities
management, health informatics and information management, and project
management and implementation of major operational initiatives. Mr.
Schweinhart previously served as Senior Vice President of Operations.
Marty Bonick has been promoted to President, Division I Operations.Mr.
Bonick will oversee hospital operations in Alabama, Mississippi, North
Carolina and Virginia. Most recently, he served as Vice President of
Operations for Division I.
Tim Hingtgen has been named President, Division IV Operations.Mr.
Hingtgen will oversee hospitals in Alaska, Arizona, California, New
Mexico, Nevada, Oklahoma, Oregon, Utah, Washington and Wyoming. Most
recently, he served as a Vice President of Operations for Division IV.
Division Presidents continuing in their roles include:Michael
Portacci, President, Division II OperationsMr. Portacci will
oversee hospitals in Arkansas, Louisiana, Missouri and Texas.
Marty Smith, President, Division III OperationsMr. Smith
will oversee hospitals in Illinois, Kentucky, Tennessee and West
Tom Miller, President, Division V OperationsMr. Miller will
oversee hospitals in Indiana, New Jersey, Ohio and Pennsylvania.
Bill Hussey, President, Division VI OperationsMr. Hussey
will oversee hospitals in Florida, Georgia and South Carolina.
The following executives have been promoted from Vice President to
Senior Vice President:Andi Bosshart, Senior Vice President,
Corporate Compliance and Privacy OfficerJim Doucette,
Senior Vice President, TreasurerBen Fordham, Senior Vice
President and Chief Litigation CounselTomi Galin, Senior
Vice President, Corporate Communications, Marketing and Public AffairsKevin
Hammons, Senior Vice President and Chief Accounting OfficerTim
Marlette, Senior Vice President and Chief Purchasing OfficerRon
Shafer, Senior Vice President, Human Resources
Commenting on the leadership changes, Wayne Smith, Chairman and Chief
Executive Officer, said, "The talented and experienced leadership team
at Community Health Systems is well prepared and excited about the
opportunities ahead as we move toward the completion of our acquisition
of Health Management Associates and respond to the changing dynamics in
our industry. I appreciate the commitment, hard work and contributions
of all of our executive leaders and support teams. It is an honor to
work with these exceptional people who are dedicated to our purpose of
providing high quality healthcare in communities across the nation and
to the long-term success of our organization."
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 135
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."
Forward-Looking StatementsCertain statements contained in
this communication may constitute "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of 1995.
These statements include, but are not limited to, statements regarding
the expected timing of the completion of the merger, the benefits of the
merger, including future financial and operating results, the combined
company's plans, objectives expectations and other statements that are
not historical facts. Such statements are based on the views and
assumptions of the management of the Company and are subject to
significant risks and uncertainties. Actual future events or results may
differ materially from these statements. Such differences may result
from the following factors: the ability to close the transaction on the
proposed terms and within the anticipated time period, or at all, which
is dependent on the parties' ability to satisfy certain closing
conditions, including the receipt of governmental approvals. Additional
risks and factors that may affect results are set forth in the Company's
filings with the Securities and Exchange Commission, including each
company's Annual Report on Form 10-K and Form 10-K/A for the fiscal year
ending December 31, 2012.
The forward-looking statements speak only as of the date of this
communication. The Company undertakes no obligation to update these
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