Community Health Systems, Inc. filings document the regulatory record of a hospital operator with NYSE-listed common stock and a wholly owned subsidiary that issues senior secured notes, CHS/Community Health Systems, Inc. The company's 8-K reports disclose operating results, Regulation FD information, debt tender offers, senior secured note matters, asset dispositions and related exhibits.
Proxy and governance filings describe board matters, named executive officer compensation, incentive plans and shareholder voting items. Capital-structure disclosures cover common stock registration, senior secured notes due 2031 and 2032, tender-offer mechanics and other material events tied to the company's healthcare delivery assets and outpatient network.
Community Health Systems (CYH) reported a return to profitability in Q3 2025. Net operating revenues were $3,087 million, essentially flat year over year. Income from operations was $243 million versus a loss of $205 million a year ago. Net income attributable to stockholders was $130 million, or $0.96 diluted EPS, compared with a loss of $391 million, or $(2.95) diluted EPS.
For the nine months, revenues were $9,379 million and net income attributable to stockholders was $399 million, or $2.97 diluted EPS, versus a loss of $446 million, or $(3.38) diluted EPS, last year. Results reflect a net gain of approximately $242 million from divestitures year to date and a Q3 income tax benefit of about $163 million tied to federal legislation. Interest expense was $216 million in Q3.
Cash from operations reached $277 million year to date. Asset sales provided $1,012 million of proceeds. Long‑term debt declined to $10,589 million from $11,432 million at year‑end, supported by refinancing, including $700 million of 10.75% senior secured notes due 2033 and $1.790 billion of 9.75% senior secured notes due 2034, alongside tenders/redemptions of 2027 and 2028 notes.
Community Health Systems (CYH) furnished an update via an 8-K announcing operating results for the third quarter ended September 30, 2025. The company also provided updated 2025 annual earnings guidance in a press release attached as Exhibit 99.1.
The guidance reflects the company’s historical operating performance, current trends and other assumptions outlined in the press release on pages 16–20. The information in this report (including the exhibit) is deemed furnished, not filed.
Community Health Systems, Inc. reported that its wholly owned subsidiary CHSPSC, LLC entered into a consultancy agreement with retiring Chief Executive Officer Tim L. Hingtgen. Effective after his retirement as director and executive officer on September 30, 2025, Mr. Hingtgen will serve as a consultant from October 1, 2025 through September 30, 2026, advising the management team on healthcare operations, strategy, and other assignments as requested by Interim Chief Executive Officer Kevin J. Hammons or his designee. Under the agreement, Mr. Hingtgen will receive consulting fees of $33,333.33 per month and will be subject to restrictions on competition, solicitation, and conflicts of interest with CHSPSC, LLC or its affiliates. The full consulting agreement is filed as Exhibit 10.1.
Community Health Systems, Inc. announced leadership transitions effective October 1, 2025. Kevin J. Hammons, currently President and Chief Financial Officer, will become Interim Chief Executive Officer and serve as principal executive officer following the retirement of CEO Tim L. Hingtgen on September 30, 2025. Jason K. Johnson, currently Senior Vice President and Chief Accounting Officer, will become Interim Chief Financial Officer and continue as principal accounting officer.
The Board also approved higher 2025 base salaries starting October 1, 2025, increasing Mr. Hammons’ annualized base salary to $1,250,000 and Mr. Johnson’s to $630,000. For October 1 through December 31, 2025, their cash incentive targets under the 2019 Employee Performance Incentive Plan are 215% of base salary for Mr. Hammons and 115% for Mr. Johnson, with potential additional percentages for non‑financial performance improvements and overachievement of goals. Bonus terms for January 1 through September 30, 2025 remain unchanged.
Apollo-related entities filed Amendment No.1 to a Schedule 13G reporting collective ownership of Common Stock of Community Health Systems, Inc. (CUSIP 203668108). The filing shows that Apollo Capital Management, L.P. and affiliated reporting persons beneficially own 7,628,576 shares, representing 5.4% of the outstanding class based on 140,119,116 shares. Ownership is reported as shared voting and dispositive power; no reporting person claims sole voting or sole dispositive power. Individual Apollo-managed funds and vehicles hold smaller stakes, ranging from 0.0% to 3.0% for Credit Strategies (4,212,955 shares). The filing includes organizational details and disclaimers of beneficial ownership by certain managers and officers.
Nomura Holdings, Inc. and its subsidiary Nomura Global Financial Products, Inc. reported beneficial ownership of 7,271,079 shares of Community Health Systems, Inc. The filing states these shares represent 5.2% of CYH's common stock outstanding based on 140,119,616 shares as of June 30, 2025. All reported shares are held with shared voting and shared dispositive power; neither reporting person claims sole voting or dispositive power. The statement is filed on a Schedule 13G and includes certifications that the holdings are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer. Signatures and exhibits (Joint Filing Agreement and Subsidiaries) are included.
Eversept Partners, Eversept 1 LLC and Kamran Moghtaderi jointly report beneficial ownership of 6,144,384 shares of Community Health Systems, Inc. common stock, representing approximately 4.4% of the outstanding shares based on a 140,306,440-share base. The reporting persons state they have sole voting and dispositive power over 5,463,507 shares and shared voting and dispositive power over 680,877 shares (the latter held in managed accounts). The filing clarifies the securities are held in the ordinary course of business and were not acquired to change or influence control of the issuer.
On August 12, 2025, CHS/Community Health Systems, Inc. completed an offering of $1,790,000,000 aggregate principal amount of 9.750% Senior Secured Notes due 2034 under an indenture dated August 12, 2025. The Notes pay interest at 9.750% per year, payable semi-annually on March 15 and September 15 beginning March 15, 2026, and mature on January 15, 2034.
The Notes are unconditionally guaranteed on a senior-priority secured basis by the Company and specified domestic subsidiaries and are secured by first-priority liens on Non-ABL Priority Collateral and second-priority liens on ABL-Priority Collateral. The Notes are subject to three intercreditor agreements that limit actions by the Collateral Agent and the Indenture contains covenants restricting new indebtedness, dividends, certain investments, liens, asset sales, transfers of assets and certain affiliate transactions, as well as customary events of default.
The Issuer used the net proceeds of the Notes Offering, together with cash on hand, to repurchase $1,735,362,000 aggregate principal amount of its 5.625% Senior Secured Notes due 2027 that were validly tendered by the early tender deadline, leaving $21,638,000 of 2027 Notes outstanding; the Issuer intends to refinance the remainder through the Tender Offer or a redemption.