NAPLES, Fla.--(BUSINESS WIRE)--Feb. 6, 2012--
Health Management Associates, Inc. (NYSE: HMA) today announced
that it has executed a definitive agreement to joint venture five
Oklahoma hospitals. The transaction is subject to normal and customary
regulatory approvals and is expected to be completed by March 1, 2012.
The Oklahoma hospitals to be joint ventured include: 53-bed Integris
Blackwell Regional Hospital, located in Blackwell; 64-bed Integris
Clinton Regional Hospital, located in Clinton; 25-bed Integris Marshall
County Medical Center, located in Madill; 52-bed Integris Mayes County
Medical Center, located in Pryor; and 32-bed Integris Seminole Medical
Center, located in Seminole. Combined, these five hospitals total 226
licensed beds and generated approximately $95 million of revenue over
the last twelve months. Under the joint venture, Health Management will
own an 80% controlling interest in these five hospitals and will manage
their operations.
“We are very excited about the opportunity to partner with Integris
Health and broaden our network of services in Oklahoma,” said Gary D.
Newsome, President and Chief Executive Officer of Health Management. “We
are looking forward to working together with the physicians, medical
professionals, and hospitals staffs to continue their more than 50 year
history of delivering high quality health care to Oklahomans throughout
the state. We will work together with Integris to enhance patient
outcomes, improve access and enable America’s best local health care in
each of these respective hospitals.”
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. Health Management, through its
subsidiaries, upon completion of this transaction, will operate 71
hospitals, with approximately 10,700 licensed beds, in non-urban
communities located throughout the United States.
All references to "Health Management" and 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" 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
incurrence of indebtedness, 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, and its most
recent Quarterly Report on Form 10-Q, under the headings 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 its risk factors or
to publicly announce updates to the forward-looking statements contained
in this press release to reflect new information, future events or other
developments.
Source: Health Management Associates, Inc.
Health Management Associates, Inc.
John C. Merriwether, 239-598-3131
Vice
President of Financial Relations
