Sparks Health System, Fort Smith, Ark., said its board of trustees has approved a nonbinding letter of intent to be acquired by Health Management Associates, Naples, Fla.
The system's main asset is 303-bed Sparks Regional Medical Center. HMA and Sparks will begin due diligence and negotiating a definitive agreement, with a goal of closing the sale during the fourth quarter of 2009, Sparks said.
The letter is the latest in a string of hospital deals. The Sparks board approved a letter of intent to be acquired by Jackson Hospital Affiliates, Alpharetta, Ga., in March, but the parties decided in June to end their discussions. JHA is an operating company of Jackson Healthcare, a staffing and information technology company.
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