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Update: Health Management Associates Inc. acquired the Wuesthoff Health System today for appoximately $152 million. As predicted in July, the two-hospital system — which now claims a 413-bed capacity — could bring in an estimated $290 million in annual revenue for the Naples-based company.
From July 27:
Shortly after explaining that its “acquisition pipeline remains active,” Naples-based Health Management Associates Inc. has followed through by agreeing to purchase the Wuesthoff Health System.
The transaction should be complete by Oct. 1, a release said.
With facilities in Rockledge and Melbourne, Wuesthoff represents a 406-bed system, and could add $290 million to HMA's annual revenues. The company generated $1.2 billion in net revenues in the second quarter of 2010.
As for his company's new relationship with the health system, HMA CEO Gary Newsome said he looked forward to the opportunity to “provide [it] with the processes, capital and expertise necessary to fulfill [its] local mission of delivering superior health care to the region."
Based in Naples, Health Management Associates operates 58 hospitals throughout the country.
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