Quorum Health Corporation (NYSE: QHC) has completed the divestiture of Sandhills Regional Medical Center in Hamlet, North Carolina, and its associated assets, to FirstHealth of the Carolinas, Inc. The effective date of the transaction is December 1, 2016.
Thomas D. Miller, Quorum Health’s president and chief executive officer stated, “We have completed our first divestiture in our strategy to optimize our portfolio to improve organizational performance and reduce debt while assuring the community in Hamlet has a local healthcare partner in FirstHealth. We anticipate closing our second announced divestiture by year end.”
About Quorum Health Corporation
Quorum Health Corporation is an operator and manager of general acute care hospitals and outpatient services in the United States. Through its affiliates, the Company owns or leases a diversified portfolio of 37 affiliated hospitals with an aggregate of over 3,500 licensed beds. The Company also operates Quorum Health Resources, LLC, a leading hospital management advisory and consulting services business. Quorum Health began trading on the NYSE under ticker symbol “QHC” on May 2, 2016, after completing its spin-off from Community Health Systems, Inc. (NYSE: CYH). More information about Quorum Health Corporation can be found at www.quorumhealth.com.
Forward-Looking Statements
Statements contained in this news release regarding expected operating results, acquisition transactions or divestitures and other events are forward-looking statements that involve risk and uncertainties. Actual future events or results may differ materially from these statements. Readers are referred to the documents filed by Quorum Health Corporation with the Securities and Exchange Commission, including current reports on Form 8-K and quarterly reports on Form 10-Q. These filings identify important risk factors and other uncertainties that could cause actual results to differ from those contained in the forward-looking statements. The Company undertakes no obligation to revise or update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.
The terms “QHC,” “Quorum Health,” “the Company,” “we,” “us” or “our” refer to Quorum Health Corporation or one or more of its subsidiaries or affiliates as applicable.
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Contacts:
Michael J. Culotta, 615-221-3502
Executive
Vice President and Chief Financial Officer
