Recently retired CHS division president to advise CEO through March 2020

Michael Portacci retired as president of Division II Operations at Franklin, Tenn.-based Community Health Systems on Dec. 1, and he entered into a consultancy agreement with CHS that same day, according to a recent filing with the Securities and Exchange Commission.

Under the agreement, Mr. Portacci will provide consulting services related to healthcare operations, healthcare management, administration and other matters at the request of CHS Chairman and CEO Wayne T. Smith.

The consulting agreement runs from Dec. 4, 2017, to March 31, 2020. Mr. Portacci will receive consulting fees of $12,500 per month from December 2017 to November 2019, according to the SEC filing.

Mr. Portacci joined CHS in 1988, and he served in a number of leadership roles before his retirement. He was appointed division president in 2007.

Commenting in October on Mr. Portacci's plan to retire, Mr. Smith said, "Michael has been an accomplished leader and an important member of our management team. His nearly 30-year tenure spans all of our company's major milestones, as well as dynamic changes within the healthcare industry."

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