 A History of Strength and Unprecedented Growth
- Community Health Systems (CHS) was founded in March 1985.
- In 1996, CHS combined its corporate headquarters in Houston, Texas with the company’s operations group in Nashville, Tennessee.
- In June 1996, an affiliate of Forstmann Little & Co. acquired the company in a $1.1 billion leveraged buyout.
- In 1997, Wayne T. Smith was recruited as President and Chief Executive Officer.
- The company was again taken public in June 2000 on the New York Stock Exchange (CYH) at a price of $13 per share.
- Today, CHS is headquartered in the Nashville suburb of Franklin, Tennessee.
- July 2007: Completed the acquisition of Triad Hospitals, adding more than 50 hospitals to the organization.
- Affiliated hospitals across our markets employ more than 90,000 people.
Since Smith and Cash assumed their leadership positions with Community Health Systems, the organization has been successful in the following areas:
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- Strengthened the company’s senior management team in all key business areas.
- Standardized and centralized operations across key business areas.
- Implemented a disciplined acquisition program.
- Expanded and improved the services and facilities at CHS hospitals.
- Implemented quality of care improvement programs at hospitals.
- Recruited additional physicians to the markets in which hospitals are located.
- Instituted a company-wide regulatory compliance program.
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Under CHS President and CEO Wayne Smith and CFO Larry Cash's leadership, CHS has grown from $742 million in net revenue to more than $4 billion in net revenue in 2006. This represents a compound annual growth rate of 22 percent— the strongest record of revenue of growth in the industry. The 2007 acquisition of Triad Hospitals made CHS the largest publicly traded hospital company in the United States
