For-profit chain Health Management Associates, Naples, Fla., announced that it had signed a definitive agreement to form a joint venture with not-for-profit Integris Health, Oklahoma City, which would result in HMA owning 80% of five Integris hospitals in Oklahoma and managing them.
HMA, Integris Health plan joint venture
Terms of the deal were not disclosed.
Hospitals to be a part of the joint venture are: 49-bed Integris Clinton (Okla.) Regional Hospital; 39-bed Integris Mayes County Medical Center, Pryor; 32-bed Integris Seminole (Okla.) Medical Center; 31-bed Integris Blackwell (Okla.) Regional Hospital; and 21-bed Integris Marshall County Medical Center, Madill. The five hospitals generated approximately $95 million of revenue over the past twelve months, according to a news release from HMA.
HMA had announced in November that it had entered into exclusive negotiations to form the joint venture with 12-hospital Integris. The transaction is subject to the usual regulatory approvals and is expected to close March 1, according to the news release.
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