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CHS completes 38-hospital spinoff

Franklin, Tenn.-based Community Health Systems has completed its previously announced spinoff of Quorum Health Corp., which includes 38 hospitals across 16 states as well as CHS' hospital management and consulting business.

QHC is now an independent public company listed on the New York Stock Exchange under the ticker symbol "QHC."

Commenting on the spinoff, CHS Chairman and CEO Wayne T. Smith said, "At Community Health Systems, our smaller, refined portfolio creates immediate efficiencies and sharpens our focus on key, competitive markets where we can seek to capitalize on our greatest opportunities for sustainable growth."

With the transaction completed, CHS owns, leases or operates 160 affiliated hospitals in 22 states.

More articles on healthcare industry transactions:

24 hospital transactions and partnerships in April
Healthcare's $40B day: 5 things to know about Thursday's mega-mergers
Northeast hospitals establish strategic partnership: 5 things to know

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