Naples, Fla.-based Health Management Associates has entered into a joint venture partnership with the current physician owners of Tri-Lakes Medical Center in Batesville, Mississippi, according to an HMA news release.
Under the agreement, HMA will acquire a controlling interest of the 132-bed hospitals. The value of the transaction was not disclosed.
The deal is expected to be completed by June 1.
"We are very pleased to have the opportunity to partner with the medical staff at Tri-Lakes Medical Center in serving the Batesville community, while broadening our Mississippi network of hospitals," said Gary D. Newsome, President and CEO of Health Management. "With our existing whole-hospital joint venture experience, our current presence in Mississippi and our operational expertise in managing non-urban medical centers, we believe we are uniquely situated to offer the processes, capital and expertise necessary to fulfill Tri-Lakes mission of delivering superior health care to the residents of Batesville and the greater Panola County area."
Read the release on Tri-Lakes Medical Center.
Read previous coverage on Tri-Lakes Medical Center:
- Former CEO of Mississippi's Tri-Lakes Medical Center Accused of Kickbacks, Embezzlement
Under the agreement, HMA will acquire a controlling interest of the 132-bed hospitals. The value of the transaction was not disclosed.
The deal is expected to be completed by June 1.
"We are very pleased to have the opportunity to partner with the medical staff at Tri-Lakes Medical Center in serving the Batesville community, while broadening our Mississippi network of hospitals," said Gary D. Newsome, President and CEO of Health Management. "With our existing whole-hospital joint venture experience, our current presence in Mississippi and our operational expertise in managing non-urban medical centers, we believe we are uniquely situated to offer the processes, capital and expertise necessary to fulfill Tri-Lakes mission of delivering superior health care to the residents of Batesville and the greater Panola County area."
Read the release on Tri-Lakes Medical Center.
Read previous coverage on Tri-Lakes Medical Center:
- Former CEO of Mississippi's Tri-Lakes Medical Center Accused of Kickbacks, Embezzlement