Health Management Associates Executes Definitive Agreement to Joint Venture Five Oklahoma Hospitals
Health Management Associates, Inc. (NYSE: HMA) today announced that it has executed a definitive agreement to joint venture five Oklahoma hospitals. The transaction is subject to normal and customary regulatory approvals and is expected to be completed by March 1, 2012.
The Oklahoma hospitals to be joint ventured include: 53-bed Integris Blackwell Regional Hospital, located in Blackwell; 64-bed Integris Clinton Regional Hospital, located in Clinton; 25-bed Integris Marshall County Medical Center, located in Madill; 52-bed Integris Mayes County Medical Center, located in Pryor; and 32-bed Integris Seminole Medical Center, located in Seminole. Combined, these five hospitals total 226 licensed beds and generated approximately $95 million of revenue over the last twelve months. Under the joint venture, Health Management will own an 80% controlling interest in these five hospitals and will manage their operations.
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