Jane Meinhardt
Bayfront Medical Center in St. Petersburg
Community Health Systems Inc. would become a major player in Florida and in the Tampa Bay health care market with the pending acquisition of Health Management Associates Inc.
Community Health (NYSE: CYH), a Franklin, Tenn.-based hospital operator that currently has just two hospitals in Florida, will have 25 Florida hospitals after its deal with HMA closes.
That includes Bayfront Medical Center in St. Petersburg and six other hospitals: Bartow Regional Medical Center, Brooksville Regional Hospital, Heart of Florida Regional Medical Center in Davenport, Pasco Regional Medical Center in Dade City, Spring Hill Regional Hospital and Venice Regional Medical Center.
Florida would become the No. 1 state for Community Health, which would have 206 facilities in 29 states as a result of the deal, which is expected to close in the first quarter of 2014.
Community Health announced its planned $7.6 billion purchase of Naples-based HMA (NYSE: HMA) early Tuesday. Community Health will pay $3.9 billion for HMA?s stock and assume about $3.7 billion in HMA debt.
The deal was announced as HMA said it received additional subpoenas from the U.S. Department of Health and Human Services, regarding physician relationships and some emergency room operations, a report from the Associated Press said.
Margie Manning is Quality and Content Editor of the Tampa Bay Business Journal. She also covers banking, finance and professional services.
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