Health Management Associates, Naples, Fla., completed its joint venture with the physician owners of Tri-Lakes Medical Center, Batesville, Miss., effective May 1, according to a news release issued today.
HMA completes Miss. joint venture
HMA owns a 95% stake in the joint venture and is responsible for managing the operations of the hospital, according to the release. The purchase price was not disclosed. The deal gives HMA 60 hospitals in 15 states, including 11 in Mississippi.
The 110-bed hospital has struggled for much of its 11-year history. A local politician credited Raymond Shoemaker, its CEO from 2005 to 2007, with saving the hospital from bankruptcy, but a federal grand jury indicted Shoemaker earlier this year on charges that include taking kickbacks for hospital services, embezzling funds and making payments to himself out of a loan meant for the hospital.
Shoemaker was a Modern Healthcare Up and Comer in 2006.
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