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.
HCA Healthcare will acquire Weatherford Regional Medical Center from Community Health Systems, the providers announced Tuesday. The deal is part of CHS' ongoing effort to reduce a hefty debt load.
The troubled hospital chain Community Health Systems plans to divest 30 hospitals to pay off some of its $14.7 billion in debt.
Brian Bauer, CEO of Community Health Systems' Fort Wayne hospitals, has been fired in the wake of a failed physician effort to find a buyer for the eight hospitals.
UCHealth expands in Denver, Wayne State and Henry Ford contemplate a merger, and other regional news.
Community Health Systems has rejected a $2.4 billion buyout offer for its eight Fort Wayne, Ind., hospitals, saying Monday the proposal by physicians and private-equity players came in at least $1 billion lower than what it was worth.
The face of Community Health Systems would change dramatically if the hospital giant accepted a physician-led buyout offer for its eight hospitals in Fort Wayne, Ind. The eight hospitals that make up the Lutheran Health Network generate 15% to 20% of CHS earnings.
Community Health Systems CEO Wayne Smith's total compensation decreased from $10.4 million in 2015 to $5.8 million in 2016.
Chinese billionaire Tianqiao Chen, the largest shareholder of Community Health Systems, signaled Monday that his passive investment in the struggling hospital chain could turn activist.
Community Health Systems has found a buyer for its 125-bed Stringfellow Memorial Hospital in Anniston, Ala., the 16th hospital that it has agreed to divest since beginning a restructuring last year. The hospital will sell for $25 million.