A subsidiary of Naples, Fla.-based Health Management Associates has signed a definitive agreement to acquire Knoxville, Tenn.-based Mercy Health Partners, a subsidiary of Cincinnati-based Catholic Health Partners, according to an HMA news release.
HMA will acquire or lease Mercy Health Partners' seven hospitals, which include 1,323 licensed beds. HMA will also acquire substantially all of Mercy Health Partners' ancillary healthcare operations, which include 197 beds, and the former Riverside hospital campus, which is licensed to operate 293 beds.
The acquisition is expected to cost approximately $525 million in addition to certain adjustments for working capital and the assumption of certain long-term lease liabilities. The transaction is expected to be completed by Oct. 1.
Read the HMA release on Mercy Health Partners.
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HMA will acquire or lease Mercy Health Partners' seven hospitals, which include 1,323 licensed beds. HMA will also acquire substantially all of Mercy Health Partners' ancillary healthcare operations, which include 197 beds, and the former Riverside hospital campus, which is licensed to operate 293 beds.
The acquisition is expected to cost approximately $525 million in addition to certain adjustments for working capital and the assumption of certain long-term lease liabilities. The transaction is expected to be completed by Oct. 1.
Read the HMA release on Mercy Health Partners.
Related Articles on Health Management Associates:
HMA to Negotiate Acquisition of Tennessee's 7-Hospital Mercy Health Partners
Baptist Healthcare Plans to Turn Over Management of Florida's Jay Hospital to HMA
HMA Q1 Net Income up 18.3%