Community Health Systems
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| Type | Public |
|---|---|
| Traded as | NYSE: CYH |
| Industry | Health care |
| Founded | 1985 |
| Founder(s) | Charles Miller Richard Ragsdale |
| Headquarters | Franklin, Tennessee, United States |
| Key people | Wayne T. Smith (CEO) Larry Cash (CFO) |
| Revenue |  $7.2 billion (2007) |
| Operating income | $458 million (2007) |
| Net income |  $30 million (2007) |
| Employees | 90,000 |
| Website | http://www.chs.net/ |
Community Health Systems Inc. is a Fortune 500 company based in Franklin, Tennessee. It is the largest non-urban provider of general hospital healthcare services in the United States in terms of number of acute care facilities. As of May 2009, it operates 135 hospitals in 29 states.[1] After purchasing Triad, Inc., it divested itself of its interest in a facility in Ireland.
[edit] History
E. Thomas Chaney, former executive of Hospital Affiliates, Inc. and Charles Miller and Richard Ragsdale, former executives at Hospital Corporation of America spinoff Republic Health Corporation, formed Community Health Systems in 1985.[2]
The company made its initial public offering in 1991. In 1996, the company was purchased by private equity firm Forstmann Little & Company.[3] Community Health Systems went public again in 2000.[4] The company's largest hospital by number of beds is Trinity Medical Center located in Birmingham, Alabama with 534 beds.[5]
Currently it is being accused by Tenet Healthcare of overbilling Medicare in its aggressive admissions policy compared to its peers. It was subpoenaed by Medicare on its aggressive billing to the Medicare systems.[6]
[edit] References
- ^ "CHS closes Triad purchase". Nashville Business Journal. 2007-07-25.
- ^ "BUSINESS PEOPLE; 3 Hospital Bidders Facing Skepticism". New York Times. 1987-04-13.
- ^ Freundheim, Milt (1006-06-11). "Forstmann to Acquire Community Health for $1.1 Billion". New York Times.
- ^ "Stock Offerings Are Set". New York Times. 2000-06-05.
- ^ "Community Health Systems 2010 10-K". Securities and Exchange Commission. 2011-02-25.
- ^ "Community Health Faces Inquiry on Medicare Claims". New York Times. 2011-11-15.
[edit] External links
- Community Health Systems
- Fortune 500 2007: Community Health Systems
- News stories on Community Health Systems from NashvillePost.com
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