Business
HMA shedding five hospitals
NEWS IN BRIEF — Posted Aug. 28, 2006
Health Management Associates Inc. plans to sell five hospitals under two deals announced recently.
The Naples, Fla.-based hospital chain announced on Aug. 7 that it had reached an agreement to sell two psychiatric hospitals in Florida to Psychiatric Solutions Inc. of Franklin, Tenn. A few weeks earlier, HMA announced that it would sell three acute care hospitals to Shiloh Health Services Inc. of Nevada.
Terms of the deals, which were subject to regulatory approval, were not disclosed. However, Psychiatric Solutions said the two facilities it was buying -- 80-bed Sandy Pines in Tequesta, Fla., and 104-bed University Behavioral Center in Orlando, Fla. -- produced combined revenues of about $20 million in 12 months.
The acute care hospitals being sold were Southwest Regional Medical Center, 125 beds, in Little Rock, Ark.; Summit Medical Center, 103 beds, in Van Buren, Ark.; and Williamson Memorial Hospital, 76 beds, in Williamson, W.Va.
After completing the transactions, HMA said it would operate 57 hospitals in 14 states.
Note: This item originally appeared at http://www.ama-assn.org/amednews/2006/08/28/bibf0828.htm.
