HMA invests in hospitals

The deal in which Health Management Associates Inc. acquired a controlling interest in three Shands HealthCare hospitals took effect yesterday, June 1. See below for more details.

From May 27: Health Management Associates Inc. has agreed to acquire a controlling interest in three Shands HealthCare hospitals in Florida, according to a company release.
The hospitals are located in Lake City, Live Oak, and Starke, Fla.

The three hospitals currently generate approximately $100 million in annual net revenue, the release said. Once the transaction is completed, Health Management Associates and its subsidiaries will operate 58 hospitals.

The publically-traded, Naples-based company (NYSE: HMA) has a market capitalization of more than $2 billion, and was featured in a March edition of the Business Review.