Kevin Hammons previously served as Community Health Systems' assistant CFO and treasurer.
Community Health Systems Inc. (CHS) named Kevin Hammons as the organization's chief financial officer (CFO) Wednesday, the same day the company completed the divestiture of three Virginia hospitals.
Hammons, who previously served as CHS' assistant CFO and treasurer, replaces Thomas J. Aaron, who served as CFO from May 2017 to the end of 2019.
Aaron will still serve as a consultant to the company's management team on margin improvement efforts through 2021.
Wayne T. Smith, chief executive officer at CHS, called Hammons "uniquely and highly qualified" in a mid-December press release.
"I am confident Kevin will continue to lead and execute strategies that improve the Company’s financial performance and help position Community Health Systems for future success," Smith said in a statement.
Related: 'This is Not Just a Blip.' Community Health Systems CEO Touts Best Numbers Since 2015
CHS also completed the sale of three Virginia hospitals to Bon Secours Mercy Health, Inc., on Wednesday.
CHS divested Southside Regional Medical Center, a 300-bed hospital in Petersburg, Southampton Memorial Hospital, a 105-bed hospital in Franklin, and Southern Virginia Regional Medical Center, an 80-bed hospital in Emporia.
The divestitures were discussed during the company's Q3 earnings call, when the Franklin, Tennessee–based for-profit hospital operator reported a net loss of $17 million, a significant improvement compared to the $325 million loss in Q3 2018.
CHS' stock did not start 2020 off well in light of the news, trading down more than 4.5% in the early morning session.
Jack O'Brien is the Content Team Lead and Finance Editor at HealthLeaders, an HCPro brand.