Health Management Associates, Naples, Fla., said it terminated a definitive agreement to sell two hospitals to Shiloh Health Services, Louisville, Ky., because the privately held Shiloh was not able to obtain the financing needed to complete the sale.
The two hospitals are 83-bed Summit Medical Center, Van Buren, Ark., and 76-bed Williamson (W.Va.) Memorial Hospital. Last month, HMA said that a third hospital originally involved in the deal, 125-bed Southwest Regional Medical Center, Little Rock, Ark., was being dropped from the sale.
HMA still intends to divest all three of the hospitals, which would leave it with 58 hospitals in 14 states. Shiloh could not be reached for comment. -- by Vince Galloro