Saba Capital Management's purchase of 6.8% of Community Health Systems' shares preceded a sharp fall in its share price.
Being the sole community provider is a challenge anywhere, but in a place like the Florida Keys, the burden is magnified, especially when the Atlantic Ocean is restive.
Community Health Systems-owned Lutheran Health Network has sued its former CEO for using confidential information to lure competitor Indiana University Health to the Fort Wayne, Ind., market.
Community Health Systems' financial outlook got weaker on many fronts with the release of its third-quarter results.
Indiana University Health is opening a primary care practice in Fort Wayne with the ousted CEO of Community Health System's Lutheran Health Network along with the former chief medical officer, who will lead the practice.
With struggling giants Tenet Healthcare and Community Health Systems now sellers rather than buyers of hospitals, their competitors are paying a premium to acquire their coveted facilities.
Activist investors have taken off the gloves as turnarounds have plodded along at Community Health Systems and Tenet Healthcare.
ASL Strategic Value Fund managing director Steven Braverman said Community Health Systems' management has failed to return his phone calls, and the company's operational turnaround has not gotten traction.
Chinese billionaire Tianqiao Chen as recently as February used his 10% stake in Legg Mason to gain two board seats at the asset-management firm, including the vice chairmanship for himself. His designs for CHS haven't been made public but he already carries weight with his holdings.
Chinese billionaire Tianqiao Chen ended months of relative quiet at CHS by buying 9.8 million more shares of the company under an activist flag.
Buyer interest in more Community Health Systems hospitals has the chain unloading another $1.5 billion in annualized hospital revenue to reduce debt and focus resources in core markets.
The troubled hospital chain Community Health Systems plans to divest 30 hospitals to pay off some of its $14.7 billion in debt.