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Community Health Systems, Inc.
Community Health Systems, Inc. Announces the Divestiture of Denton, Texas Hospital to Joint Venture Partner
April 18th, 2009
Community Health Systems, Inc. (NYSE: CYH) announced that the partnership units of its subsidiaries (Triad-Denton Hospital GP, LLC and Triad-Denton Hospital, LP) in a partnership that owns Presbyterian Hospital of Denton, in Denton, Texas, and other related hospital assets, have been sold to Texas Health Resources and its affiliate. Texas Health Resources was a minority partner in the limited partnership that owns the 255-bed hospital and exercised a right to purchase the 80 percent ownership interest held by the two Company subsidiaries. Texas Health Resources subsequently filed suit over terms of the transaction. A settlement was initially reached on December 23, 2008, which settled all...
Source: Law & Health Weekly (2009-04-18)
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