FRANKLIN, Tenn.-- Community Health Systems, Inc. (NYSE: CYH) announced today that a subsidiary of the Company has signed a definitive agreement to sell 171-bed San Angelo Community Medical Center in San Angelo, Texas, and its associated assets to subsidiaries of Shannon Health System.

The parties intend to apply for a Certificate of Public Advantage under a new regulatory framework in the State of Texas, involving, among other things, review and approval of the transaction by the Texas Health and Human Services Commission. This regulatory review process is expected to conclude by the end of the third quarter this year.

The hospital in this transaction is among the additional planned divestitures discussed on the Company's fourth quarter 2019 earnings call.