8-k Filing Shows Community Health Systems Update on Spin-Off Of Quorum Health Corp

On January 7, 2016, the Company issued a press release regarding the projected timeline to complete the previously announced spin-off of Quorum Health Corporation. The transaction is now expected to close during the first half of 2016. In addition, the Company also announced in the press release that as of the end of 2015, the Company had repurchased and retired the maximum 5,000,000 shares of the Company's common stock authorized for repurchase under the 2014 Share Repurchase Program (as defined below) at an average price per share of $28.84 and a total cost (including commissions) of $144,400,880 and commenced making purchases under the 2015 Share Repurchase Program (as defined below). All purchases of the Company's common stock were made pursuant to the "safe harbor" provisions of Exchange Act Rule 10b-18 and ceased when the Company's trading window closed in the middle of December. As previously disclosed on November 9, 2015, the Board of Directors of the Company approved a new open market repurchase program for up to 10,000,000 shares of the Company's common stock, not to exceed total purchases under the program of $300,000,000 (the "2015 Share Repurchase Program"). The 2015 Share Repurchase Program was adopted for the purpose of succeeding the Company's preexisting open market repurchase program for up to 5,000,000 shares of the Company's common stock, not to exceed total purchases under the program of $150,000,000, which was initiated in December 2014 (the "2014 Share Repurchase Program"). A copy of the press release making these announcements is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference into this Item 8.01.