Community Health Systems Announces Definitive Agreement to Acquire Scranton, Pennsylvania-Based Health System

Community Health Systems, Inc. CYH announced today that its subsidiary has executed a definitive agreement to acquire substantially all of the assets of Moses Taylor Health Care System, located in northeast Pennsylvania. The system includes 217-bed Moses Taylor Hospital in Scranton and 25-bed Mid-Valley Hospital in Peckville. The transaction is subject to customary federal and state regulatory approvals, including review and approval by the Attorney General of the Commonwealth of Pennsylvania. Currently, thirteen Community Health Systems, Inc. affiliated hospitals serve Pennsylvania communities, including recently acquired facilities in Scranton, Wilkes-Barre and other surrounding cities. Commenting on today's announcement, Wayne T. Smith, chairman, president and chief executive officer of Community Health Systems, Inc., said, “The acquisition of Moses Taylor Health Care System will provide a compelling opportunity to expand our operations in northeast Pennsylvania. We look forward to working with the system's outstanding physicians and employees, who are part of a century-long tradition of providing high-quality, compassionate care for patients. We also look forward to new opportunities for collaboration, sharing of best practices, resources and expertise as we continue to expand and enhance the health services available in this region.”