Business

HMA pulls out of Ga. hospital deal

NEWS IN BRIEF — Posted March 6, 2006

Print  |   Email  |   Respond  |   Reprints  |   Like Facebook  |   Share Twitter  |   Tweet Linkedin

Hospital operator Health Management Associates has backed out of a deal to buy St. Joseph Hospital in Augusta, Ga., saying the hospital's performance has declined since the agreement was first reached.

An e-mail dated Feb. 13 from HMA General Counsel Timothy Parry to the Georgia attorney general's office said the company was withdrawing from the deal because the 231-bed hospital "has experienced significant deterioration in its operating performance including adverse changes in physician referral practices."

An HMA official said he could not comment further because of a confidentiality agreement.

The Naples, Fla.-based operator of mostly rural and suburban acute care hospitals announced in December 2005 that it had reached a nonbinding agreement to buy St. Joseph, saying the hospital was in an "attractive" and rapidly growing market. The deal was reportedly worth $75 million.

Officials with Ascension Health, the owner of St. Joseph, said they were "surprised and extremely disappointed" when they received notification of HMA's decision to back out of the deal just hours before the state attorney general was to hold a public hearing on the sale.

Note: This item originally appeared at http://www.ama-assn.org/amednews/2006/03/06/bibf0306.htm.

Back to top


ADVERTISEMENT

ADVERTISE HERE


Featured
Read story

Confronting bias against obese patients

Medical educators are starting to raise awareness about how weight-related stigma can impair patient-physician communication and the treatment of obesity. Read story


Read story

Goodbye

American Medical News is ceasing publication after 55 years of serving physicians by keeping them informed of their rapidly changing profession. Read story


Read story

Policing medical practice employees after work

Doctors can try to regulate staff actions outside the office, but they must watch what they try to stamp out and how they do it. Read story


Read story

Diabetes prevention: Set on a course for lifestyle change

The YMCA's evidence-based program is helping prediabetic patients eat right, get active and lose weight. Read story


Read story

Medicaid's muddled preventive care picture

The health system reform law promises no-cost coverage of a lengthy list of screenings and other prevention services, but some beneficiaries still might miss out. Read story


Read story

How to get tax breaks for your medical practice

Federal, state and local governments offer doctors incentives because practices are recognized as economic engines. But physicians must know how and where to find them. Read story


Read story

Advance pay ACOs: A down payment on Medicare's future

Accountable care organizations that pay doctors up-front bring practice improvements, but it's unclear yet if program actuaries will see a return on investment. Read story


Read story

Physician liability: Your team, your legal risk

When health care team members drop the ball, it's often doctors who end up in court. How can physicians improve such care and avoid risks? Read story

  • Stay informed
  • Twitter
  • Facebook
  • RSS
  • LinkedIn