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Community Health Care, Inc. history
Community Health Care, Inc. company history timeline
When Community Health began operating in 1985, Ragsdales served as the company's chairman and Chaney served as its chief executive officer.
The second hospital purchase took place soon thereafter in January 1986.
The hospital, acquired in January 1986, contained 34 licensed beds, the fewest number of beds acquired by the company during its first 20 years in business.
In 1990, for instance, the company paid $850 million for Gulfstream Aerospace Corp. and sold the company six years later for $4 billion.
Smith rose through the executive ranks at Humana, becoming its president and chief operating officer in 1993.
In 1994, Forstmann Little paid $1.4 billion for Ziff-Davis Publishing and sold it the following year for $2.1 billion.
1994: The acquisition of Hallmark Healthcare nearly doubles the size of Community Health.
1995: E. Thomas Chaney announces his intention to resign as chief executive officer.
In March 1996, the New York-based investment banking firm Merrill Lynch was hired to solicit interest in the company.
That dream became a reality on May 1, 1996, when the largest not-for-profit hospice in the state was formed as Community Hospice of Texas in the DFW area and Providence Hospice in the Waco region.
In 1996 leaders from Harris Hospital, St Joseph Hospital (now Ascension Providence), and Huguley Hospital (now a Texas Health Resource partner) all had a vision.
1997: Wayne T. Smith is named president and chief executive officer of Community Health.
Revenue in 1998 exceeded $850 million, eclipsing the $1 billion mark the following year.
By mid-1999, the company had acquired two more hospitals, giving it a total of 45 hospitals, and had signed letters of intent to acquire five more hospitals.
June 2000: Community Health Systems, Inc. is taken public for the second time on the New York Stock Exchange trading under the symbol CYH with an initial offering price of $13 per share.
In June 2000, the company completed its IPO, raising $245 million from the offering and gaining another $269 million through a secondary offering of stock completed before the end of the year.
Community Health adhered to a disciplined acquisition strategy, selecting hospitals that were ailing for reasons that were not related to the market they served. "You can fix bad hospitals; you can't fix bad markets," an analyst noted in the June 24, 2002 issue of Investor's Business Daily.
2004: Forstmann Little divests its remaining stake in Community Health.
July 2007: Community Health Systems, Inc. completes the acquisition of Triad Hospitals, Inc. adding more than 50 hospitals and nearly doubling the size of the organization.
January 2014: Community Health Systems, Inc. completes the acquisition of Health Management Associates, Inc., adding approximately 70 hospitals to the organization.
April 2016: On April 29, 2016, the organization formed a new, independent, publicly traded hospital company by spinning off a group of 38 hospitals and Quorum Health Resources, LLC, a leading hospital management and consulting firm.
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Community Health Care, Inc. competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Aaron E Henry Community Health Services Center, Inc. | 1979 | $10.1M | 134 | - |
| Central Florida Health Care, Inc. | 1973 | $2.4M | 35 | 120 |
| San Juan Regional Medical Center | 1952 | $280.0M | 3,000 | 36 |
| Legacy Community Health | 1978 | $62.0M | 132 | 170 |
| First Choice Pediatrics | - | $4.5M | 300 | 17 |
| La Casa Family Health Center | 1976 | $13.9M | 150 | 3 |
| Our Lady Of Lourdes Hospital | - | $10.0M | 3,500 | - |
| Great Plains Health | 1975 | $6.4M | 35 | 46 |
| Yakima Valley Farm Workers Clinic | 1978 | $290.0M | 3,000 | 133 |
| Hamilton Health Center | 1969 | $50.0M | 80 | 51 |
Community Health Care, Inc. history FAQs
Zippia gives an in-depth look into the details of Community Health Care, Inc., including salaries, political affiliations, employee data, and more, in order to inform job seekers about Community Health Care, Inc.. The employee data is based on information from people who have self-reported their past or current employments at Community Health Care, Inc.. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Community Health Care, Inc.. The data presented on this page does not represent the view of Community Health Care, Inc. and its employees or that of Zippia.
Community Health Care, Inc. may also be known as or be related to COMMUNITY HEALTH CARE INC, Community Health Care Clinics Inc and Community Health Care, Inc.