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NAPLES -- Health Management Associates Inc. (symbol: HMA) agreed to acquire an 80% controlling interest in five Oklahoma hospitals, through a joint venture with Integris Health.
The five hospitals represent an addition of $95 million to HMA's expected annual revenues, a slight increase for a company with more than $5.5 billion in revenues over the past 12 months.
The Oklahoma hospitals being acquired are: Blackwell Regional Hospital, in Blackwell; Integris Clinton Regional Hospital, in Clinton; Integris Marshall County Medical Center, in Madill; Integris Mayes County Medical Center, in Pryor; and Integris Seminole Medical Center, in Seminole. The five hospitals offer a total of 226 licensed beds.
Once the transaction is completed, the Naples-based hospital management company will oversee operations at 71 hospitals throughout the U.S.
The company's stock price is back near $7, down roughly 6% from its opening value on Jan. 3. HMA's price per share temporarily fell below $5 on Jan. 10, but has since recovered by 40%.
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