QUORUM HEALTH CORPORATION (NYSE:QHC) Files An 8-K Costs Associated with Exit or Disposal ActivitiesItem 2.05Costs Associated with Exit or Disposal Activities
The information set forth in Item 8.01 below is incorporated herein by reference.
Item 7.01Regulation FD Disclosure
The Company’s press release, dated January 5, 2018, related to the matters discussed below is attached as Exhibit 99.1 to this Form 8-K.
Item 8.01Other Events
On January 5, 2018, Quorum Health Corporation (the “Company”) announced its strategic decision to close Affinity Medical Center in Massillon, Ohio, after extensive efforts to sell the facility. Operations will cease at 11:59 p.m. on February 4, 2018. The 156-bed facility has experienced financial losses each year for the last six years. The Company is unable at this time to determine an expected completion date of all activities associated with the closure, which will depend on multiple items, including adherence to federal healthcare and employment laws and resolving certain physician agreements, but anticipates that a significant portion of the closure activities will be completed by March 31, 2018. The Company has preliminarily begun the process of estimating the costs to be incurred as a result of the closure, but is unable at this time to make a good faith estimate of the major types of costs or amount or range of amounts that may be incurred in connection with this closure, or an estimate of the amount or range of amounts of any charges that would result in future cash expenditures, including whether any such charges will be material. As these amounts are still being finalized, additional details will be provided in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017, or, if the charges are determined to be material, in an amendment to this Form 8-K.
Item 9.01Financial Statements and Exhibits
(d)Exhibits
Quorum Health Corp ExhibitEX-99.1 2 qhc-ex991_14.htm EX-99.1 qhc-ex991_14.htm Exhibit 99.1 Investor Contact: Michael J. Culotta Executive Vice President and Chief Financial Officer (615) 221-3502 QUORUM HEALTH CORPORATION ANNOUNCES CLOSURE OF HOSPITAL IN OHIO BRENTWOOD,…To view the full exhibit click here
About QUORUM HEALTH CORPORATION (NYSE:QHC)
Quorum Health Corporation is an operator and manager of general acute care hospitals and outpatient services in the United States. The Company operates in two segments: Hospital operations, which includes its general acute care hospitals and related healthcare entities that provide inpatient and outpatient healthcare services, and hospital management advisory and consulting services, which includes Quorum Health Resources, LLC (QHR). It operates QHR, which is a hospital management advisory and consulting services that provides services to non-affiliated general acute care hospitals. Its hospitals and its affiliated businesses offer services, such as general acute care, emergency room, general and specialty surgery and rehabilitation services. On April 1, 2016, Community Health Systems, Inc. announced that its board of directors has approved the distribution to its stockholders of 100% of the common stock of a new, independent publicly traded company, Quorum Health Corporation.
