Health Management Associates (NYSE: HMA) is in talks with Mercy Health Partners to acquire its seven hospitals, the chain announced this week.
The Florida-based for-profit HMA operates 60 hospitals in mostly suburban and rural settings, as are the facilities operated by Mercy Health, a Tennessee-based not-for-profit that is a subsidiary of Catholic Health Partners.
"I believe that Health Management Associates is an extraordinary match for Mercy Health Partners," Mercy CEO Jeffrey Ashin said in a letter to his staff, reports Healthcare Finance News. Ashin added that HMA understands and is committed to maintaining Mercy's mission, has a good track record with physicians, values local leadership and is committed to making capital investments.
The deal is expected to be complete by the fall. It would require both regulatory and canonical approvals. Should the transaction go through, Mercy would sever its connection to the Sisters of Mercy order, as well as the Catholic Church, but would retain chaplaincy programs and keep local sisters in their current roles.
To learn more:
- here's the announcement
- read the Healthcare Finance News article
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