July 28, 2014 6:43 PM ET

Healthcare Providers and Services

Company Overview of CHS/Community Health Systems, Inc.

Company Overview

CHS/Community Health Systems, Inc. owns, leases, and operates acute care hospitals in non-urban and urban markets in the United States. The company’s hospitals offer general and specialized hospital healthcare services, including general acute care, emergency room, general and specialty surgery, critical care, internal medicine, obstetrics, diagnostic, psychiatric, and rehabilitation services. It also provides additional outpatient services at urgent care centers, occupational medicine clinics, imaging centers, cancer centers, ambulatory surgery centers, and home health and hospice agencies. The company is based in Franklin, Tennessee. CHS/Community Health Systems, Inc. is a subsidiary of Co...

4000 Meridian Boulevard

Franklin, TN 37067

United States

Phone:

615-465-7000

Key Executives for CHS/Community Health Systems, Inc.

Chairman
Age: 68
Chief Financial Officer
Age: 65
Senior Vice President of Operations
Age: 59
President of Division II Operations
Age: 55
President of Division V Operations
Age: 56
Compensation as of Fiscal Year 2014.

CHS/Community Health Systems, Inc. Key Developments

Community Health Systems, Inc. and CHS/Community Health Systems, Inc. Launch Credit Facility Financing

Community Health Systems, Inc. announced that it and its CHS/Community Health Systems, Inc. are launching a credit facility financing in connection with the previously announced acquisition of Health Management Associates Inc. The new credit facility financing includes a new Revolving Credit Facility of $1.0 billion which will replace the company's existing revolving credit facility and mature in 2019, a new Term Loan A Facility of $1.0 billion which will replace the company's existing Term Loan A Facility and mature in 2019, an extension of the maturity of certain existing extended term loans maturing in 2017 to 2021, and a new $2.26 billion Term Loan D Facility that will mature in 2021. Proceeds from a portion of the new Term Loan A Facility and the Term Loan D Facility are expected to be applied to finance the acquisition of HMA and refinance existing indebtedness. In addition, the company is seeking the consent of lenders to amend its existing senior secured credit agreement to add flexibility commensurate with the post-acquisition structure of the company.

Community Health Systems, Inc. and CHS/Community Health Systems, Inc. Finalize Amendment of its Credit Facilities

Community Health Systems, Inc. announced that it and its subsidiary CHS/Community Health Systems, Inc. and certain other subsidiaries have entered into an amendment effective as on August 12, 2013 of their existing credit agreement, dated as of July 25, 2007, as amended and restated as of November 5, 2010, February 2, 2012, as further amended August 3, 2012 and as of November 27, 2012. The Amendment provides for increased flexibility to incur debt by amending certain terms of the Credit Agreement, including the maximum leverage ratio and secured leverage ratio covenant levels. In addition, the Amendment includes pricing protection for certain extended term loans, which specifies an increased margin in certain instances. The Amendment also provides for a total leverage-based step up to the applicable margin of the extended term loans and the non-extended term loans. The pricing of the loans under the Credit Agreement will otherwise remain unchanged.

Community Health Systems, Inc. and CHS/Community Health Systems, Inc. Finalize Amendment of its Credit Facilities

Community Health Systems, Inc. and CHS/Community Health Systems, Inc. have received the requisite lender consents for the proposed amendment of their existing credit agreement, dated as of July 25, 2007, as amended and restated as of November 5, 2010 and February 2, 2012. The Amendment provides increased flexibility for the company to make investments and restricted payments and incur debt related to acquisitions, and amends certain other terms of the Credit Agreement, including the maximum leverage ratio and interest coverage ratio financial covenant levels. The pricing of the Loans under the Credit Agreement will remain unchanged. A one year 1% prepayment premium payable in connection with a reprising of the extended term loans due 2017 was added. The Amendment is expected to become effective November 26, 2012.

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