The J.P. Morgan Healthcare Conference continued in San Francisco on Wednesday as Community Health Systems provided few details on its continuing divestment plans, and Universal Health Systems blamed nurse and psychiatrist shortages for its lagging growth.
A federal appeals court has revived an $891 million securities fraud lawsuit against Community Health Systems that alleged the company misled investors on its financial health.
The purchases, while relatively small, were done at bargain basement prices below $4 a share.
Community Health Systems will sell its 120-bed hospital in Dade City, Fla., to Adventist Health System, as it previously said that it would.
Money will go to capital and equipment projects, including a project to replace old beds, which were a target of criticism during buyout discussions last May.
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.