Community Health Systems is a Fortune 500 company based in Franklin, Tennessee. It was the largest provider of general hospital healthcare services in the United States in terms of number of acute care facilities. CHS affiliates own, operate, or lease 95 hospitals in 16 states. At the close of 2016, it had operated 158 hospitals in 22 states., In August 2015, the company announced plans to spin off 38 hospitals and its management and consulting subsidiary, Quorum Health Resources, into a new publicly traded company called Quorum Health Corporation. The company completed the spinoff of Quorum Health Corporation on April 29, 2016. Quorum owns or leases hospitals across 16 states, primarily in cities or counties with populations of 50,000 or less. It is listed on the New York Stock Exchange under the ticker symbol: QHC., On October 3, 2016, CHS was removed from the S&P Midcap 400 and added to the S&P Smallcap 600. Under CEO Wayne T. Smith, the Company's stock has lost over 76% of its value since the year 2000., Chinese billionaire Tianqiao Chen had a 22.2 percent stake in Community Health Systems in 2017.