CHS spinoff issues 2016 financial outlook

Following its spin off from Franklin, Tenn.-based Community Health Systems, Quorum Health Corp. expects to record revenue in the range of $2.2 billion to $2.3 billion in 2016.

CHS plans to combine 38 hospitals and its hospital management and consulting business into QHC. The transaction is expected to close in the second quarter of 2016.

QHC hospitals experienced growth in adjusted admissions and emergency room visits from Jan. 1 through March 21, increasing 1.1 percent and 3.6 percent, respectively, over the same period a year earlier.

Based on a preliminary assessment of its operating results, QHC expects adjusted EBITDA to range from $265 million to $275 million in 2016.

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