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May 28, 2015 7:26 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 general acute care hospitals in non-urban and urban markets in the United States. The company provides general and specialized hospital healthcare services and other outpatient services to patients, as well as offers 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/Com...

4000 Meridian Boulevard

Franklin, TN 37067

United States

Phone:

615-465-7000

Key Executives for CHS/Community Health Systems, Inc.

Chairman and Chief Executive Officer
Age: 68
President and Chief Operating Officer
Age: 65
Chief Financial Officer, President of Financial Services and Director
Age: 65
Chief Quality Officer and President of Clinical Services
Age: 54
President of Division II Operations
Age: 55
Compensation as of Fiscal Year 2014.

CHS/Community Health Systems, Inc. Key Developments

Community Health Systems, Inc. and its Subsidiary CHS/Community Health Systems, Inc. Enters into an Incremental Term Loan Assumption Agreement

On May 18, 2015, Community Health Systems, Inc. and its subsidiary CHS/Community Health Systems, Inc. (the ‘Borrower’) entered into an Incremental Term Loan Assumption Agreement, among the Company, the Borrower, the subsidiary guarantors party thereto, the lenders party thereto and Credit Suisse AG. The Agreement provides for a new $1,600,000,000 incremental term loan G facility (the ‘Incremental Term Loan G Facility’) and a new $2,943,957,253 incremental term loan H facility (the ‘Incremental Term Loan H Facility’) under the Credit Agreement, dated as of July 25, 2007, as amended and restated as of November 5, 2010, February 2, 2012 and January 27, 2014, and as further amended as of March 9, 2015 (as heretofore amended, supplemented, amended and restated or otherwise modified, the ‘Credit Agreement’), among the Borrower, the Company, the lenders party thereto and the Agent. The proceeds of the Incremental Term Loan G Facility and the Incremental Term Loan H Facility are being used to repay the Company’s existing term loan D facility in full (which bore interest at LIBOR plus a margin of 325 basis points and was scheduled to mature in January 2021). The Incremental Term Loan G Facility has a maturity date of December 31, 2019, subject to customary acceleration events and to the repayment, extension or refinancing with longer maturity debt of certain of the Company’s other indebtedness. The pricing on the Incremental Term Loan G Facility is LIBOR plus a margin of 275 basis points. The Incremental Term Loan G Facility will amortize at 1% per annum (0.25% quarterly). The Incremental Term Loan H Facility has a maturity date of January 27, 2021, subject to customary acceleration events and to the repayment, extension or refinancing with longer maturity debt of certain of the Company’s other indebtedness. The pricing on the Incremental Term Loan H Facility is LIBOR plus a margin of 300 basis points. The Incremental Term Loan H Facility will amortize at 1% per annum (0.25% quarterly).

Community Health Systems, Inc. and CHS/Community Health Systems, Inc. Enters into Amendment of its Existing Credit Agreement

Community Health Systems, Inc. announced that the Company and its wholly-owned subsidiary, CHS/Community Health Systems, Inc., have entered into an amendment, effective immediately, to their existing credit agreement, dated July 25, 2007, and amended and restated as of November 5, 2010, February 2, 2012, and January 27, 2014 to (i) provide for a new Incremental Term Loan F facility of $1,700,000,000 and (ii) modify certain springing maturity provisions applicable to the existing revolving credit facility and certain term loans, among other amendments. The proceeds of the Incremental Term Loan Facility are being used to repay the Company’s existing term loan E facility in full (which was scheduled to mature in January 2017) and to pay certain fees and expenses. The Incremental Term Loan Facility has a maturity date of December 31, 2018, subject to customary acceleration events and to the repayment, extension or refinancing with longer maturity debt of certain of the Company’s other indebtedness. The pricing on the Incremental Term Loan Facility is LIBOR plus a margin of 325 basis points. The Incremental Term Loan Facility will amortize at 1% per annum (0.25% quarterly).

CHS/Community Health Systems, Inc. Announces Completion of Exchange Offers for 5.125% Senior Secured Notes Due 2021 and 6.875% Senior Notes Due 2022

CHS/Community Health Systems, Inc. has completed offers to exchange its 5.125% senior senior notes due 2021 in the aggregate principal amount of $1,000,000,000, which are not registered under the Securities Act of 1933, as amended for a like principal amount of 5.125% senior senior notes due 2021, which have been registered under the Act and its 6.875% senior notes due 2022 in the aggregate principal amount of $3,000,000,000, which are not registered under the Act for a like principal amount of 6.875% senior notes due 2022, which have been registered under the Act. The exchange offers expired on October 28, 2014. As of the Expiration Date, $1,000,000,000 in aggregate principal amount (or 100%) of the outstanding Secured initial notes, and approximately $2,991,778,000 in aggregate principal amount (or 99.73%) of the outstanding unsecured Initial Notes were validly tendered and accepted for exchange. The exchange offers were made pursuant to registration rights agreements entered into in connection with the issuance of the initial notes on January 27, 2014.

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