Chinese billionaire ups stake in CHS

Chinese billionaire Tianqiao Chen has a 22.2 percent stake in Franklin, Tenn.-based Community Health Systems after buying 100,164 more shares of the company, according to a Securities and Exchange Commission filing. 

Mr. Chen and his group of companies paid an average of $3.97 per share, bringing the total price of the transaction to just under $400,000.

A pioneer in China's online gaming industry, Mr. Chen began upping his stake in the for-profit hospital operator in 2016. He most recently purchased nearly 9.8 million shares of CHS in August.  

CHS ended the third quarter of this year with a net loss of $110 million on revenues of $3.67 billion. That's compared to the same period of 2016, when the company recorded a net loss of $79 million on revenues of $4.38 billion.

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