Community Health Systems Shares Drop On Exploring Options

Community Health Systems CYH shares dropped down nearly 4 percent in pre-market trading Monday following a 15.73 percent jump last Friday. The company indicated it was exploring different options with its financial sponsors.

The company further suggested that the discussions are still at initial stage only, and there is no time limit for the current review process. Community Health added that it would not like to make any further announcement in its exploration process until it reaches a decision.

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Community Health chairman and CEO Wayne Smith said, "Community Health Systems' primary focus continues to be on delivering high-quality health services in the communities where we operate. Our management team is completely committed to efforts that advance clinical excellence, operational and financial performance and growth strategies that will benefit our organization and the customers we serve."

At time of publication within the last 30 minutes of Monday's pre-market, Community Health was down 5.21 percent at $11.65.

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