Health Management Associates, Naples, Fla., has signed a definitive agreement to form a joint venture with the physician owners of 110-bed Tri-Lakes Medical Center, Batesville, Miss., according to an HMA news release.
HMA, doc-owners plan joint venture in Miss.
HMA will take a controlling interest in the joint venture and manage its operations, although its exact stake in the hospital was not revealed. No financial terms were disclosed. HMA expects the deal to close June 1, according to the release.
HMA will bring its experience operating non-urban hospitals and whole-hospital joint ventures; its presence in Mississippi, where it operates 10 hospitals; and its financial resources to Tri-Lakes, according to a statement attributed to Gary Newsome, president and CEO of HMA.
Upon completion of the deal, HMA will operate 60 hospitals.
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