Health Management Associates, Naples, Fla., has completed its acquisition of seven-hospital Mercy Health Partners-Tennessee from Catholic Health Partners, effective Oct. 1, according to an HMA news release.
HMA completes acquisition of Tenn. system
The Cincinnati-based Catholic system and investor-owned Health Management signed a definitive agreement, valued at $525 million, on July 1. Health Management is changing the name of the Knoxville, Tenn., system to Tennova Healthcare, combining Tennessee with a form of the Latin word for “to make new,” according to the release. The deal gives Health Management 66 hospitals.
Mercy Health Partners-Tennessee was formed by the 2008 merger between CHP's St. Mary's Health System and Baptist Health System of East Tennessee.
Earlier this year, Catholic Health Partners divested its northeast Pennsylvania hospitals in a sale to investor-owned Community Health Systems, Franklin, Tenn.
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