CYH Filings — Community Health Systems, Inc. - FilingSpy
CYH
Community Health Systems, Inc.
One of the largest hospital operators in the United States, running roughly six dozen hospitals and more than a thousand outpatient sites across a dozen-plus states, from emergency rooms to urgent care and physician practices. Founded in 1985 in Franklin, Tennessee, it grew by buying struggling rural and smaller-town community hospitals and folding them into a bigger network that shares back-office services like billing and supply buying. Its name reflects that mission—keeping local "community" hospitals alive with the help of a larger corporate system.
Community Health Systems reports Q2 2026 net income of $70M on revenue of $2.825B
Q2 2026 net operating revenues totaled $2.825 billion, down 9.8% from $3.133 billion in Q2 2025; same-store revenues rose 2.4%.
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Net income attributable to stockholders was $70 million ($0.51 diluted EPS), versus $282 million ($2.09) in Q2 2025; adjusted net loss was $(0.19) per diluted share.
Adjusted EBITDA was $330 million in Q2 2026, down from $380 million in Q2 2025.
Same-store admissions increased 1.9% and adjusted admissions increased 2.9% in Q2 2026 versus Q2 2025.
Company repurchased $368M of 4.750% notes due 2031 and $231M of 10.875% notes due 2032 via tender offer, using divestiture proceeds.
2.02 Results of Operations and Financial Condition · 7.01 Regulation FD Disclosure · 9.01 Financial Statements and Exhibits
Community Health Systems completes sale of four Arkansas hospitals to Freeman Health System for $110 million
The purchase price was $110 million in cash, subject to post-closing working capital adjustment, before certain transaction expenses.
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CHS completed the sale of substantially all assets of four Arkansas hospitals and associated outpatient centers to Freeman Health System on June 1, 2026.
The hospitals sold were Northwest Medical Center-Bentonville, Northwest Medical Center-Springdale, Northwest Medical Center-Willow Creek Women's Hospital, and Siloam Springs Regional Hospital.
The transaction was previously announced on March 5, 2026, and the closing was effective June 1, 2026.
Leerink Partners acted as exclusive financial advisor to CHS for the transaction.
2.01 Completion of Acquisition or Disposition of Assets · 8.01 Other Events · 9.01 Financial Statements and Exhibits
Community Health Systems stockholders elect 14 directors and approve executive pay and auditor ratification at 2026 annual meeting.
Director votes ranged from 81,095,873 for Susan W. Brooks to 83,645,103 for Lt. Gen. Ronald L. Burgess, Jr., with broker non-votes of 27,004,521 for each.
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At the May 12, 2026 annual meeting, stockholders elected all 14 director nominees, each for a term expiring at the 2027 annual meeting.
The non-binding advisory resolution on named executive officer compensation passed with 81,701,049 votes for, 1,814,301 against, and 540,013 abstentions.
Stockholders ratified Deloitte & Touche LLP as independent auditor for fiscal year 2026 with 110,561,632 votes for, 351,405 against, and 146,847 abstentions.
The report was filed under Item 5.07 to disclose the results of these stockholder votes.
5.07 Submission of Matters to a Vote of Security Holders
Community Health Systems announces early tender results for up to $600M cash tender offer for senior secured notes
As of the Early Tender Date, $994,822,000 aggregate principal amount of 2031 Notes (94.05%) and $822,029,000 aggregate principal amount of 2032 Notes (46.18%) were validly tendered and not withdrawn.
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On May 6, 2026, Community Health Systems, Inc. announced early tender results for its cash tender offer to purchase up to $600,000,000 aggregate purchase price of its 4.750% Senior Secured Notes due 2031 and 10.875% Senior Secured Notes due 2032.
Proration factors are approximately 37.07% for 2031 Notes and 28.14% for 2032 Notes, resulting in acceptance of $368,421,000 of 2031 Notes and $230,946,000 of 2032 Notes for purchase on the Early Settlement Date, expected to be May 7, 2026.
The tender offer was made by the company's wholly owned subsidiary, CHS/Community Health Systems, Inc., with UBS Investment Bank as dealer manager.
No notes tendered after the Early Tender Date will be accepted unless the issuer amends or waives terms, with no assurance of such action.
8.01 Other Events · 9.01 Financial Statements and Exhibits
Community Health Systems launches $600M tender offer for two series of senior secured notes
On April 22, 2026, CHS/Community Health Systems, Inc., a wholly owned subsidiary of Community Health Systems, Inc., commenced a cash tender offer for up to $600 million aggregate purchase price of its outstanding 4.750% Senior Secured Notes due 2031 and 10.875% Senior Secured Notes due 2032.
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The tender offer includes a 2031 Tender Cap of $350 million and a 2032 Tender Cap of $250 million, with the purchase to be financed from cash on hand.
Holders tendering by the Early Tender Date of May 5, 2026, are eligible for a $50.00 per $1,000 early tender payment, resulting in total consideration of $950.00 for the 2031 notes and $1,082.50 for the 2032 notes.
The tender offer expires at 5:00 p.m. New York City time on May 20, 2026, with early settlement expected on May 7, 2026, and final settlement expected on May 22, 2026.
UBS Investment Bank serves as dealer manager, and Global Bondholder Services Corporation is the information and tender agent.
8.01 Other Events · 9.01 Financial Statements and Exhibits
Community Health Systems completes $459M sale of Crestwood Medical Center to Huntsville Hospital Health System
The purchase price was $459 million in cash, subject to a post-closing working capital adjustment and before certain transaction expenses.
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On April 1, 2026, CHS completed the sale of substantially all assets of Crestwood Medical Center in Huntsville, Alabama, and its associated outpatient centers and practices to Huntsville Hospital Health System.
The transaction was originally announced on January 20, 2026, and the closing was effective April 1, 2026.
The divestiture is part of additional potential divestitures discussed on the company's Q4 2025 earnings call.
Leerink Partners acted as exclusive financial advisor to the company for the transaction.
2.01 Completion of Acquisition or Disposition of Assets · 8.01 Other Events · 9.01 Financial Statements and Exhibits
Community Health Systems to sell four Arkansas hospitals to Freeman Health System for $112 million
The hospitals are Northwest Medical Center-Bentonville (128 beds), Northwest Medical Center-Springdale (222 beds), Willow Creek Women's Hospital (64 beds), and Siloam Springs Regional Hospital (73 beds).
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CHS subsidiary agreed to sell substantially all assets of four Arkansas hospitals and related businesses to Freeman Health System for $112 million, subject to adjustments.
The transaction is expected to close in Q2 2026, subject to customary regulatory approvals and closing conditions.
The Purchase Agreement may be terminated if the transaction is not completed by August 1, 2026.
Leerink Partners is acting as exclusive financial advisor to CHS.
1.01 Entry into a Material Definitive Agreement · 8.01 Other Events · 9.01 Financial Statements and Exhibits