During Tuesday’s Current trade, Shares of Community Health Systems (NYSE:CYH), gain 3.79% to $60.54.
Community Health Systems, Inc. (CYH) declared that it plans to create a new publicly traded hospital company by spinning off to Community Health Systems’ stockholders a group of 38 hospitals and Quorum Health Resources, LLC, a leading hospital administration and consulting business. The new company will be named Quorum Health Corporation to leverage the existing strength of the Quorum brand. The spin-off is intended to be tax-free to Community Health Systems and its stockholders and is predictable to be accomplished in the first quarter of 2016.
Quorum Health Corporation will be headquartered in middle Tennessee and will operate independently with its own board of directors and administration team. It will comprise a diversified portfolio of 38 hospitals with an aggregate of 3,635 licensed beds across 16 states. The hospitals that will comprise Quorum Health Corporation have strong market positions and are primarily located in cities or counties having populations of 50,000 or less. In 84 percent of these markets, the hospital is the sole provider of acute care hospital services. In 2014, The Joint Commission recognized 74 percent of the hospitals that will become part of Quorum Health Corporation as Top Performers in Key Quality Measures. The new company will also comprise Quorum Health Resources, which provides hospital administration and consulting services to 150 non-associated hospitals across the United States, most of which are located in similar markets as Quorum Health Corporation’s sole provider hospitals.
Community Health Systems, Inc., together with its auxiliaries, provides general and specialized hospital healthcare services to patients in the United States. The company operates general acute care hospitals that offer a range of inpatient and outpatient medical and surgical services, such as general acute care, emergency room, general and specialty surgery, critical care, internal medicine, obstetrics, diagnostic, psychiatric, and rehabilitation services, in addition to skilled nursing and home care services based on individual community needs.
Shares of Diamondback Energy Inc (NASDAQ:FANG), inclined 3.10% to $68.89, during its current trading session.
Viper Energy Partners LP (VNOM) a partner of Diamondback Energy, Inc. (FANG) declared its second quarter 2015 cash distribution. Diamondback and Viper recently also declared that they plan to release their respective second quarter 2015 financial results on August 5, 2015 after the market closes.
Diamondback Energy, Inc., an independent oil and natural gas company, focuses on the acquisition, development, exploration, and exploitation of onshore oil and natural gas reserves in the Permian Basin in West Texas. Its activities are primarily focused on the Clearfork, Spraberry, Wolfcamp, Cline, Strawn, and Atoka formations.
Northrop Grumman Corporation (NYSE:NOC), during its Tuesday’s current trading session gained 0.12% to $172.36.
With the U.S. Marine Corps achieving F-35B initial operating capability (IOC), the Multifunction Advanced Data Link (MADL) waveform developed by Northrop Grumman Corporation (NOC) has been proven a key combat-ready capability of the F-35 Lightning II program.
MADL is a high-data-rate, directional communications link that allows fifth-generation aircraft to communicate and coordinate tactics covertly. During testing of the Lockheed Martin F-35, MADL exceeded 1,000 flight hours.
MADL is part of Northrop Grumman’s F-35 integrated communications, navigation and identification (CNI) avionics and an important element of the F-35 Block 2 software release. Northrop Grumman has delivered 181 CNI systems to Lockheed Martin, the F-35 prime contractor.
Northrop Grumman Corporation, a security company, provides systems, products, and solutions in aerospace, electronics, information systems, and technical service areas to government and commercial customers worldwide. The companys Aerospace Systems segment designs, develops, integrates, and produces manned aircraft, unmanned systems, spacecraft, high-energy laser systems, microelectronics, and other systems and subsystems.
Finally, Koninklijke Philips NV (ADR) (NYSE:PHG), gained 0.29%, to $28.00.
Royal Philips (NYSE: PHG,) launched the 3rd Annual “ISRRT Dosewise Radiographer of the Year” contest to further enhance awareness about the risks of radiation dose exposure during diagnostic image testing. The annual contest, conducted in partnership with the International Society of Radiographers and Radiological Technologists (ISRRT), recognizes dose-conscious radiographers from around the world for their contribution in improving dose tracking and measurement and efforts toward overall radiation dose reduction.
Koninklijke Philips N.V. engages in healthcare, consumer lifestyle, and lighting businesses worldwide. It provides various integrated clinical solutions, counting radiation oncology and portfolio administration; computed tomography, magnetic resonance imaging, and molecular imaging products; digital X-ray and mammography products; interventional X-ray products in cardiology, radiology, surgery, and other areas; and ultrasound products.
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