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Community Health Systems, Inc. Provides Update on FTC and SEC Review Processes

  Community Health Systems, Inc. Provides Update on FTC and SEC Review
  Processes

Business Wire

FRANKLIN, Tenn. -- October 9, 2013

Community Health Systems, Inc. (NYSE: CYH) (“CHS”) announced today that on
September 30, 2013, it received a request for additional information and
documentary materials ("Second Request") from the Federal Trade Commission
("FTC") in connection with CHS’ pending acquisition of Health Management
Associates, Inc. (NYSE:HMA) (“HMA”). The request for information and documents
from the FTC was issued under notification requirements of the
Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (“HSR Act”).

A Second Request is a standard part of the FTC review process, and was
anticipated by CHS. The effect of the Second Request is to extend the review
period imposed by the HSR Act.

CHS intends to fully cooperate with the FTC's review and obtain clearance for
the transaction as expeditiously as possible. The transaction is subject to
approval by HMA stockholders and the satisfaction of customary closing
conditions and regulatory approvals, including expiration or termination of
the applicable waiting period under the HSR Act.

In addition, CHS announced today that on October 4, 2013, it received a letter
from the United States Securities and Exchange Commission (the “SEC”)
indicating that the SEC has not reviewed and will not review CHS’s
Registration Statement on Form S-4 containing the prospectus of CHS
registering the shares of CHS common stock to be issued in its merger with HMA
and the proxy statement of HMA for the solicitation of proxies from HMA
stockholders for the approval of the transaction.

As previously disclosed, on September 24, 2013, CHS and HMA amended their
merger agreement to permit the new HMA board of directors to retain additional
financial advisors to assist them in an evaluation of the merger consistent
with the terms of the merger agreement. CHS anticipates the evaluation of the
merger by the HMA board of directors will be completed prior to mid-November
2013. Once the evaluation is completed, CHS expects to have the Registration
Statement on Form S-4 declared effective by the SEC, HMA to mail definitive
proxies to its stockholders shortly thereafter, and HMA to hold a special
meeting of its stockholders to consider the transaction by the end of the
year.

CHS expects that the pending transaction will be completed in the first
quarter of 2014.

About CHS

Located in the Nashville, Tennessee, suburb of Franklin, Community Health
Systems, Inc. is one of the largest publicly-traded hospital companies in the
United States and a leading operator of general acute care hospitals in
non-urban and mid-size markets throughout the country. Through its
subsidiaries, CHS currently owns, leases or operates 135 hospitals in 29
states with an aggregate of approximately 20,000 licensed beds. Its hospitals
offer a broad range of inpatient and outpatient medical and surgical services.
Shares in Community Health Systems, Inc. are traded on the New York Stock
Exchange under the symbol "CYH."

Important Information and Where to Find It

In connection with the proposed transaction, CHS has filed with the SEC a
registration statement on Form S-4 that includes a preliminary proxy statement
of HMA and a preliminary prospectus of CHS. CHS and HMA plan to file a
definitive proxy statement/prospectus and other relevant documents with the
SEC regarding the proposed transaction. INVESTORS AND SECURITY HOLDERS ARE
URGED TO READ THE REGISTRATION STATEMENT AND DEFINITIVE PROXY
STATEMENT/PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS WHEN THEY BECOME
AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT CHS, HMA AND
THE MERGER. When completed and available, the definitive proxy
statement/prospectus and a form of proxy will be mailed to stockholders of
HMA. These materials and other documents filed with the SEC will be available
at no charge at the SEC’s website at www.sec.gov. In addition, stockholders
will be able to obtain copies of the definitive proxy statement/prospectus
(when they become available) and other documents filed with the SEC from CHS’s
website at www.chs.net or and HMA’s website at www.hma.com or by directing
such request to CHS at 4000 Meridian Boulevard, Franklin, Tennessee 37067,
Attention: Investor Relations, or to HMA at 5811 Pelican Bay Boulevard,
Naples, Florida 34108, Attention: Investor Relations.

CHS, HMA and certain of their respective directors, executive officers and
other persons may be deemed to be participants in the solicitation of proxies
in respect of the merger. Information regarding CHS’s directors and executive
officers is available in CHS’s proxy statement filed with the SEC on April5,
2013 in connection with its 2013 annual meeting of stockholders, and
information regarding HMA’s directors and executive officers is available in
HMA’s preliminary proxy statement contained in the registration statement on
Form S-4 filed by CHS with SEC on September24, 2013.

This communication shall not constitute an offer to sell or the solicitation
of an offer to sell or the solicitation of an offer to buy any securities, nor
shall there be any sale of securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such jurisdiction. No offer of securities
shall be made except by means of a prospectus meeting the requirements of
Section10 of the Securities Act of 1933, as amended.

Forward-Looking Statements

Certain statements contained in this communication may constitute
“forward-looking statements” within the meaning of the Private Securities
Litigation Reform Act of 1995. These statements include, but are not limited
to, statements regarding the expected timing of the completion of the merger,
the benefits of the merger, including future financial and operating results,
the combined company’s plans, objectives, expectations and other statements
that are not historical facts. Such statements are based on the views and
assumptions of the management of CHS and HMA and are subject to significant
risks and uncertainties. Actual future events or results may differ materially
from these statements. Such differences may result from the following factors:
the ability to close the transaction on the proposed terms and within the
anticipated time period, or at all, which is dependent on the parties’ ability
to satisfy certain closing conditions, including the receipt of governmental
approvals; the risk that the benefits of the transaction, including cost
savings and other synergies may not be fully realized or may take longer to
realize than expected; the impact of the transaction on third-party
relationships; actions taken by either of the companies; changes in
regulatory, social and political conditions, as well as general economic
conditions. Additional risks and factors that may affect results are set forth
in HMA’s and CHS’s filings with the Securities and Exchange Commission,
including each company’s Annual Report on Form 10-K for the fiscal year ending
December31, 2012.

The forward-looking statements speak only as of the date of this
communication. Neither CHS nor HMA undertakes any obligation to update these
statements.

Contact:

Community Health Systems, Inc.
Investor Relations:
W. Larry Cash, 615-465-7000
Executive Vice President & Chief Financial Officer
or
Media Relations:
Tomi Galin, 615-628-6607
Vice President, Corporate Communications