But during that same period, admissions increased 1.7% on a same-store basis and adjusted admissions increased 2.3% on a same-store basis. All Rights Reserved. Net operating revenues increased 4.3% for the first nine months of the year over last year.“We delivered a strong same-store performance across key metrics during the third quarter," Wayne Smith, chairman and CEO of CHS, said in a statement. The company's net debt has shrunk by $1.6 billion since Dec. 31, 2016, according to the presentation at the J.P. Morgan Healthcare Conference.Copyright © 2020 Becker's Healthcare. "We expect a good finish to this year and believe we are well-positioned to deliver a strong performance in 2020,” Smith said.A new study found reprocessing N95 masks once didn't lead to the masks becoming less effective at protecting healthcare workers from COVID-19.Nurx raised an additional $22.5 million in funding in May. Community Health Systems generated $400 million in gross proceeds on hospital divestitures in 2018, less than half of its $1.3 billion target, leaders from the hospital chain said Wednesday CHS - Community Health Systems Inc. published this content on 30 August 2019 and is solely responsible for the information contained therein. CHS completed 11 hospital divestitures during the first nine months of the year and said it intends to continue its portfolio rationalization strategy during the remainder of 2019. Interested in linking to or reprinting our content? "Continued execution of our transfer program, Accountable Care Organizations, capital investments, and strategic plans have driven these improved results. 3 Speen Street, Suite 300, Framingham, MA 01701 In 2017, CHS sold 30 hospitals and announced plans to divest another group with combined revenues of $2 billion. Franklin, Tennessee-based hospital giant Community Health Systems (CHS) reported losses of $17 million in the third quarter, a 95% increase from a loss of $325 million in the same quarter last year.CHS reported net operating revenues reached $3.25 billion, a 5.9% drop from the $3.45 billion the company reported in the third quarter of 2018.The hospital chain reported a 9.2% decrease in admissions and an 8.4% decrease in adjusted admissions compared with the same period in 2018. We believe these investments, along with recent divestitures and ongoing operating efficiency initiatives, have positioned the Company for continued improved performance. Divestitures are part of Community Health System’s financial turnaround plan, which seems to be paying off. All three hospital sales are among the planned divestitures that CHS announced during its Q4 2019 earnings call. Our quarterly update focuses on news and trends in the following areas: US divestiture volume, value, and reported multiples; US divestitures by buyer type; US divestitures by industry; Cross-border activity; In 2019, US divestiture activity continued the trends unfolding over the last few years. Admissions on a same-store basis, however, increased by 2.4%, and adjusted admissions increased 3.6% compared to last year's third quarter.For the nine months ended Sept. 30, the health system has seen an 11.4% decrease in admissions and an 11.2% decrease in adjusted admissions compared with the same period in 2018. CHS' long-term debt totaled $13.29 billion as of Sept. 30. The terms "CHS" or the "Company" as used in this website refer to Community Health Systems, Inc. and its affiliates, unless otherwise stated or indicated by context. Franklin, Tenn.-based Community Health Systems has been busy selling, spinning-off and closing hospitals over the past four years.CHS is near the end of its hospital sell-off spree, according to the company's Shrinking its hospital portfolio has helped CHS reduce its debt load. While companies for years have generally underperformed stock markets after divesting significant assets, that tendency was severely pronounced in the first six …

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