Community Health Systems history

The second hospital purchase took place soon thereafter in January 1986.

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.

Chaney, who was in charge of the day-to-day management of the company, made his most aggressive move during this period, completing the acquisition of Atlanta-based Hallmark Healthcare in 1994.

At the end of 1995, Chaney announced he no longer wanted to lead the company, giving Community Health's board of directors a deadline for his departure that left the governing body scrambling for a replacement.

In March 1996, the New York-based investment banking firm Merrill Lynch was hired to solicit interest in the company.

In January 1997, Wayne T. Smith was named president of Community Health and selected as its chief executive officer in April 1997.

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 August 2003, the company acquired Southside Regional Medical Center.

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.

In 2013, Community Health Systems entered into an agreement with Health Management Associates to purchase HMA for about $3.6 billion in cash and stock.

The merger was completed in January 2014 and made Community Health Systems the largest for-profit hospital operator at the time, with 206 hospitals in 29 states.

On October 10, 2015, the 372-bed Grandview Medical Center began operating in Birmingham, Alabama, replacing Trinity Medical Center.

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.

CHS settled these claims for $262 million in October, 2018.

On May 22, 2019, AdventHealth announced they had signed definitive agreements to purchase 193-bed Heart of Florida Regional Medical Center in Davenport, Florida, and 160-bed Lake Wales Medical Center in Lake Wales, Florida, from affiliates of CHS.