[May 02, 2011] |
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Health Management Associates, Inc. Chosen by Catholic Health Partners to Negotiate Exclusively for a Definitive Agreement to Acquire Seven East Tennessee Hospitals
NAPLES, Fla. --(Business Wire)--
Health Management Associates, Inc. (NYSE: HMA) today announced
that it has been chosen by Catholic Health Partners to negotiate
exclusively toward a definitive agreement to acquire seven East
Tennessee hospitals from its subsidiary, Mercy Health Partners -
Tennessee.
"We are very pleased to have been chosen by Catholic Health Partners
from among multiple bidders to continue our negotiations on an exclusive
basis to seek to execute a definitive agreement for the acquisition of
these outstanding hospitals," said Gary D. Newsome, President and Chief
Executive Officer of Health Management. "Throughout this process, we
have been very impressed with the commitment to high quality care being
delivered by the physicians, medical professionals and hospital staffs
in their respective communities. We look forward to the next step in
this process - the negotiation of a binding agreement that will allow us
the opportunity to enable America's best local health care in the East
Tennessee region."
Health Management enables America's best local health care by providing
the people, processes, capital and expertise necessary for its hospital
and physician partners to fulfill their local missions of delivering
superior health care services. Upon completion of the previously
announced 112-bed Tri-Lakes Medical Center, Health Management, through
its subsidiaries, will operate 60 hospitals,with approximately 9,000
licensed beds, in non-urban communities located throughout the United
States.
All references to "Health Management," "HMA" or the "Company" used in
this release refer to Health Management Associates, Inc. and its
affiliates.
Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements are subject to risks, uncertainties and
assumptions and are identified by words such as "expects," "estimates,"
"projects," "anticipates," "believes," "plans," "could," "seek" and
other similar words. All statements addressing operating performance,
events or developments that Health Management Associates, Inc. expects
or anticipates will occur in the future, including but not limited to
projections of revenue, income or loss, capital expenditures, earnings
per share, debt structure, bad debt expense, capital structure,
repayment of indebtedness, other financial items and operating
statistics, statements regarding the plans and objectives of management
for future operations, innovations, or market service development,
statements regarding acquisitions, joint ventures, divestitures and
other proposed or contemplated transactions (including but not limited
to statements regarding the potential for future acquisitions and
perceived benefits of acquisitions), statements of future economic
performance, statements regarding the effects and/or interpretations of
recently enacted or future health care laws and regulations, statements
of the assumptions underlying or relating to any of the foregoing
statements, and other statements which are other than statements of
historical fact, are considered to be "forward-looking statements.
Because they are forward-looking, such statements should be evaluated in
light of important risk factors and uncertainties. These risk factors
and uncertainties are more fully described in Health Management
Associates, Inc.'s most recent Annual Report on Form 10-K, under the
heading entitled "Risk Factors." Should one or more of these risks or
uncertainties materialize, or should any of Health Management
Associates, Inc.'s underlying assumptions prove incorrect, actual
results could vary materially from those currently anticipated. In
addition, undue reliance should not be placed on Health Management
Associates, Inc.'s forward-looking statements. Except as required by
law, Health Management Associates, Inc. disclaims any obligation to
update or publicly announce any revisions to any of the forward-looking
statements contained in this press release.
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